CHENGDU, China - JIADE LIMITED (NASDAQ:JDZG), a provider of educational support services, has announced the successful completion of its initial public offering (IPO). The company, which serves adult education institutions, issued 2,000,000 ordinary shares at $4.00 each, securing aggregate gross proceeds of $8,000,000 before expenses.
Trading of JDZG shares commenced on the Nasdaq Capital Market on Monday, under the ticker symbol "JDZG." The IPO was managed on a firm commitment basis by WestPark Capital, Inc. as the Book-Running Lead Manager, with Webull Financial LLC serving as the co-manager.
The company has granted underwriters a 60-day option to purchase up to 300,000 additional shares at the IPO price, minus underwriting discounts. Proceeds from the IPO are earmarked for the expansion of sales and operation teams, bolstering marketing efforts, acquisition of vocational education and training institutions authorized by the Chinese government, and the establishment of 8 to 10 examination centers. Additionally, funds will be invested in technology research and development, as well as for working capital and other corporate purposes.
Legal counsel for the offering involved Hunter Taubman Fischer & Li LLC for JIADE LIMITED and MagStone Law, LLP for WestPark Capital, Inc. The SEC declared the registration statement on Form F-1 related to the IPO effective on May 14, 2024.
The final prospectus for the offering is available from WestPark Capital, Inc. and Webull Financial LLC, and can also be obtained via the SEC's website.
JIADE LIMITED specializes in comprehensive education support through its Kebiao Technology Educational Administration Platform (KB Platform), which streamlines data management across the adult education lifecycle. The company's services range from enrollment consultation to graduation management, including auxiliary solutions for teaching support and exam administration.
The press release includes forward-looking statements regarding the company's future financial performance and business strategy. These statements are subject to risks and uncertainties and are based on current expectations. JIADE LIMITED has stressed that actual results may differ from those projected and encourages investors to review the company's SEC filings for further information. The company has made it clear that it does not intend to update forward-looking statements unless required by law.
This article is based on a press release statement from JIADE LIMITED.
InvestingPro Insights
Following the initial buzz of JIADE LIMITED's (NASDAQ:JDZG) IPO, investors have witnessed a remarkable surge in the company's stock performance. With an eye-popping 104.42% return across various time frames, including the last week, month, three months, six months, and year-to-date, the stock has demonstrated significant growth potential. This impressive uptrend is backed by an average daily trading volume of 7.1 million USD, reflecting a robust investor interest in JDZG shares.
While JIADE LIMITED's growth trajectory is notable, InvestingPro Tips highlight key considerations for investors. The stock's high price volatility suggests that shareholders should be prepared for potential price swings, which could impact short-term investment strategies. Additionally, the company's weak gross profit margins and poor free cash flow yield valuation imply that investors should keep a close eye on the company's financial health and operational efficiency moving forward.
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