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NetClass Technology Inc. IPO Report: $9M Raised with Strong Investor Demand

$NTCL
Form 6-K
Filed on: 2024-12-17
Source
NetClass Technology Inc. IPO Report: $9M Raised with Strong Investor Demand

Key Information from the Financial Report (Form 6-K)

  1. Company Overview:
  • Name: NetClass Technology Inc.
  • Address: 6F, Building A, 1188 Wan Rong Road, Shanghai, People's Republic of China 200436.
  • Contact Number: +86 021-61806588.
  • Commission File Number: 001-42440.
  1. Public Offering Details:
  • Date of Underwriting Agreement: December 12, 2024.
  • Underwriter: Newbridge Securities Corporation.
  • Offering Type: Firm commitment underwritten public offering.
  • Total Shares Offered: 1,800,000 Class A ordinary shares.
  • Par Value: $0.00025 per share.
  • Public Offering Price: $5.00 per share.
  • Over-Allotment Option: Underwriters granted a 45-day option to purchase an additional 270,000 ordinary shares.
  1. IPO Closing Details:
  • Date of IPO Closure: December 16, 2024.
  • Gross Proceeds from IPO: $9 million.
  • Shares Priced at IPO: $5.00 per share.
  • Over-Allotment Status: No over-allotments were exercised.
  1. Regulatory Filings:
  • The offering was conducted under a registration statement on Form F-1 (File No. 333-2782247), which was effective as of December 12, 2024.
  • The final prospectus was filed with the SEC on December 13, 2024.
  1. Stock Market Listing:
  • Exchange: The Nasdaq Capital Market.
  • Ticker Symbol: NTCL.
  • Trading Commencement Date: December 13, 2024.
  1. Press Releases:
  • The company issued press releases on:
    • December 13, 2024, announcing the pricing of the IPO.
    • December 16, 2024, announcing the closing of the IPO.
  • These press releases are included as exhibits in the filing.
  1. Legal Disclaimer:
  • The report does not constitute an offer to sell or a solicitation of an offer to buy in any jurisdiction where such an offer would be unlawful.

Insights:

  • The successful completion of the IPO, raising $9 million at a price of $5.00 per share, suggests strong investor interest and demand for NetClass Technology Inc.'s shares.
  • The ability to secure a reputable underwriter like Newbridge Securities Corporation and to have the shares listed on Nasdaq is a positive indicator of credibility and growth potential for the company.
  • The granted option for over-allotment, although not exercised, reflects a cautious approach to managing share distribution and market dynamics by the underwriters.

This report provides a snapshot of NetClass Technology Inc.'s recent financial activities, particularly its IPO, which is crucial for potential investors and market analysts.