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Ruanyun Edai Technology, a leading AI-powered education technology company in China, has successfully completed its Initial Public Offering (IPO) on the Nasdaq Capital Market under the symbol RYET. The company offered 3,750,000 ordinary shares at $4.00 per share, raising approximately $15 million in gross proceeds.
The IPO commenced trading on April 8, 2025, with AC Sunshine Securities acting as the sole book-running manager. Ruanyun has granted underwriters a 45-day option to purchase up to 562,500 additional shares to cover over-allotments.
The net proceeds will be allocated to:
- Research and development of new products and services
- Marketing and customer services
- New content creation
- Cash reserves
- Working capital and general corporate purposes, including establishing two additional regional offices
Ruanyun Edai Technology, a Chinese AI technology company focused on K-12 education, has announced the pricing of its Initial Public Offering (IPO) of 3,750,000 ordinary shares at $4.00 per share, expecting to raise gross proceeds of approximately $15 million.
The shares will commence trading on Nasdaq Capital Market under the ticker symbol 'RYET' on April 8, 2025. The company has granted underwriters a 45-day option to purchase up to 562,500 additional shares to cover over-allotments.
The net proceeds will be used for: research and development of new products, marketing and customer services, new content creation, cash reserves, and working capital including setting up two additional regional offices. AC Sunshine Securities is serving as the sole book-running manager for this firm commitment offering.
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