Netclass Technology Inc, a prominent B2B smart education IT solutions provider with offices in Shanghai, Hong Kong, and Singapore, recently made a significant announcement regarding its initial public offering (IPO). The company disclosed that the underwriters of the offering have fully exercised their over-allotment option, resulting in the purchase of an additional 270,000 Class A ordinary shares at the public offering price of $5.00 per share. This move has generated additional gross proceeds of $1.35 million for Netclass, bringing the total gross proceeds from the offering to $10.35 million.
The over-allotment option closing date was January 03, 2025, following the successful commencement of trading of the company’s stock on the Nasdaq Capital Market under the symbol “NTCL” on December 13, 2024. The offering, which was conducted on a firm commitment basis, saw Newbridge Securities Corporation and Revere Securities, LLC acting as underwriters. Legal counsel for the transaction was provided by Ortoli Rosenstadt LLP for the Company and Sichenzia Ross Ference Carmel LLP for Newbridge Securities Corporation.
A registration statement on Form F-1 (File No. 333-278224) was filed with the Securities and Exchange Commission (SEC) and declared effective on December 12, 2024. Interested parties can access the final prospectus related to the offering on the SEC’s website. For further details, electronic copies of the final prospectus can be obtained from Newbridge Securities Corporation.
Netclass Technology Inc is a leading B2B smart education specialist that offers innovative IT solutions to various sectors, including schools, training institutions, corporations, and public agencies. The company’s services encompass SaaS subscription services, application software development, and a range of solutions for teaching, campus management, online teaching, examinations, epidemic prevention, data storage, EDC (Education Credit) blockchain systems, and lecturer evaluation services.
For more information about Netclass Technology Inc and its offerings, interested parties can visit the company’s website. It is worth noting that certain statements in this announcement are forward-looking and subject to risks and uncertainties. The company advises investors to review all relevant documents filed with the SEC for a comprehensive understanding of the offering and the company’s future prospects.
For investor and media inquiries, Netclass Technology Inc’s Investor Relations team can be reached via email. Additionally, media inquiries can be directed to Jackson Lin at Lambert by LLYC. As Netclass Technology Inc continues to make strides in the B2B smart education sector, the company remains committed to delivering reliable and high-quality products that drive sustainable growth for its customers.