Nanchang, China, April 7, 2025 (GLOBE NEWSWIRE) — Ruanyun Edai Technology Inc., a leader in artificial intelligence technology for K-12 education, has officially priced its initial public offering (IPO) of 3,750,000 ordinary shares at $4.00 per share. With this move, the company aims to garner approximately $15 million in gross proceeds prior to deducting underwriting fees and offering expenses.
The ordinary shares are set to be listed on the Nasdaq Capital Market under the ticker RYET, with trading expected to commence on April 8, 2025. Closing of the offering is anticipated on April 9, 2025, pending customary closing conditions. Furthermore, Ruanyun has granted underwriters the option to purchase an additional 562,500 shares within 45 days after the offering’s closing to cover over-allotments.
The proceeds from the IPO are earmarked for various strategic purposes, including research and development of new products, enhancing marketing and customer service efforts, new content creation, bolstering cash reserves, and general corporate purposes, including establishing two new regional offices.
The IPO is being implemented on a firm commitment basis, with AC Sunshine Securities LLC acting as the sole book-running manager. K&L Gates LLP serves as U.S. securities counsel for Ruanyun, with Hunter Taubman Fischer & Li LLC providing counsel for AC Sunshine.
A registration statement (File No. 333-281857) connected to the IPO was filed and became effective by the U.S. Securities and Exchange Commission (SEC) on March 31, 2025. The offering is strictly using a prospectus, which can be obtained from AC Sunshine Securities LLC.
Ruanyun Edai Technology Inc. is an innovative company that aims to transform K-12 education in China through the use of AI-powered learning tools and systems. By providing intelligent resources and platforms, Ruanyun enhances academic performance and optimizes educational processes, positioning itself at the forefront of educational modernization in China.
For further details, visit their website at www.ruanyun.net.
