JIADE LIMITED (JDZG), a company that specializes in providing one-stop comprehensive education supporting services to adult education institutions, today announced the pricing of its initial public offering (the “Offering”) of 2,000,000 ordinary shares at a public offering price of US$4.00 per ordinary share. The ordinary shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on May 15, 2024 under the ticker symbol “JDZG.”
The Company expects to receive aggregate gross proceeds of US$8 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 60-day option to purchase up to an additional 300,000 ordinary shares at the public offering price, less underwriting discounts. The Offering is expected to close on or about May 17, 2024, subject to the satisfaction of customary closing conditions.
Proceeds from the Offering will be used primarily to expand sales and operation teams and enhance marketing efforts, acquire vocational education and training institutions authorized by the People’s Republic of China government and establish 8 to 10 examination centers, and invest in technology research and development, and for working capital and other general corporate purposes.
The Offering is being conducted on a firm commitment basis. WestPark Capital, Inc. is the Book-Running Lead Manager for the Offering. Webull Financial LLC is the co-manager. Hunter Taubman Fischer & Li LLC is acting as U.S. securities counsel to the Company, and MagStone Law, LLP is acting as U.S. counsel to WestPark Capital, Inc. in connection with the Offering.