Provide professional education software and services in Chinaclass2videopokerNetClass Technology on Thursday revised the terms of its upcoming IPO. The Shanghai, China-based company now plans to raise US$9 million by issuing 1.8 million shares at US$4 to US$6 per share. Based on the revised median price, Netclass Technology is expected to reduce the funding amount by 9% compared with the previously expected funding amount.
The company had previously filed for the same number of stock offerings, with prices ranging from $5 to $6 per share. Through its subsidiaries in China, NetClass Technology provides intelligent education information technology solutions to schools, training institutions, enterprises, government agencies, and other institutions and corporate customers. Its services include SaaS subscription services and application software development, and its products include teaching management, campus management, online teaching and other modules.
Netclass Technology was established in 2003. For the 12 months ended September 30, 2023, the company's revenue reached US$11 million. The company plans to list on Nasdaq under the ticker symbol NTCL. Revere Securities was the only bookrunner for the transaction.