NetClass Technology (2024 New Filing) (NTCL) Plans to Raise $9 Million in December 4th IPO

NetClass Technology (2024 New Filing) (NTCL) plans to raise $9 million in an initial public offering (IPO) on Wednesday, December 4th, IPO Scoop reports. The company will be issuing 1,800,000 shares at a price of $4.00-$6.00 per share.

In the last 12 months, NetClass Technology (2024 New Filing) generated $11.6 million in revenue and had a net loss of $2.7 million. NetClass Technology (2024 New Filing) has a market-cap of $77.8 million.

Newbridge Securities and Revere Securities acted as the underwriters for the IPO.

NetClass Technology (2024 New Filing) provided the following description of their company for its IPO: “We offer, through our subsidiaries in the People’s Republic of China (PRC), a variety of SaaS subscription services to schools, training institutions, corporations, government agencies and other institutions, and corporate customers in China. (Incorporated in the Cayman Islands) Through our operating subsidiaries located in Hong Kong and PRC, namely, NetClass HK, NetClass Education, NetClass Management, NetClass Training and NetClass HR, we are mainly engaged in offering an online professional education platform and related courseware, as well as a data management system. We provide smart education IT solutions to schools, training institutions, corporations, government agencies (mainly Shanghai Municipal Education Commission), and other institutions or corporate customers. Our services include SaaS subscription services and application software development. Our products include modules such as teaching management, campus management, online teaching, online examination, epidemic prevention, EDC (Education Credit) blockchain system, and lecturer evaluation services. These modules are powered by the mobile Internet, cloud computing, and big data technologies. Our mission is to provide high-quality and reliable products to our customers to maintain sustainable business growth over the long term. Note: Net loss and revenue are in U.S. dollars are for the 12 months that ended March 31, 2024. (Note: NetClass Technology, Inc., filed an F-1/A on May 16, 2024, in which it lowered the bottom end of its price range to $4.00 – down from $5.00 – so the new price range is $4.00 to $6.00 – and the company kept the number of shares at 1.8 million shares – to raise $9.0 million, if priced at the $5.00 mid-point of its range.) (Note: NetClass Technology, Inc. filed its F-1 for a new IPO – 1.8 million shares at a price range of $5.00 to $6.00 to raise $9.9 million – on March 25, 2024. The company also simultaneously withdrew its 2023 IPO plans in a separate SEC filing dated March 25, 2024. The prospectus for the now-withdrawn 2023 IPO showed that NetClass Technology had planned to offer 3.8 million shares at a price range of $4.00 to $5.00 to raise $17.0 million.)   “.

NetClass Technology (2024 New Filing) was founded in 2003 and has 41 employees. The company is located at 6F, Building A 1188 Wan Rong Road Shanghai, People’s Republic of China 200436 and can be reached via phone at +86-021-61806588 or on the web at http://www.netclass.cn/.