NetClass Technology, a Chinese edtech company, expands price range to $4 to $6 ahead of $ $9 million US IPO in NTCL IPO Update.

NetClass Technology, a Shanghai-based company that specializes in professional education software and services, recently made changes to the terms of its upcoming IPO. Originally, the company aimed to raise $10 million by selling 1.8 million shares at a range of $5 to $6. However, following recent revisions, NetClass Technology now plans to sell 1.8 million shares at a price range of $4 to $6, resulting in a lower proceeds target of $9 million.

NetClass Technology provides smart education IT solutions through its PRC subsidiaries to various entities in China, including schools, training institutions, corporations, government agencies, and other institutions. The company’s services encompass SaaS subscription services and application software development, with products that include teaching management, campus management, and online teaching modules among others.

Established in 2003, NetClass Technology generated $11 million in revenue for the 12-month period ending on September 30th, 2023. The company plans to list on the Nasdaq under the symbol NTCL with Revere Securities acting as the sole bookrunner on the deal.

The revision in the IPO terms means that at the midpoint of the new range ($5), NetClass Technology will raise only 9% less than originally expected ($5.5 million). However, it is important to note that these revisions were made after careful consideration and analysis by NetClass Technology’s management team and board of directors.

In summary, NetClass Technology has revised its IPO terms and aims to raise $9 million instead of $10 million by selling 1.8 million shares at a price range of $4 to $6 compared to its previous filing which offered the same number of shares at a range of $5 to $6. Despite this revision

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