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WestPark Capital has closed an $8 million initial public offering (IPO) for JIADE (Nasdaq: JDZG). The offering included 2,000,000 shares at $4.00 each and began trading on May 15, 2024. The company, which provides education services to adult education institutions, plans to use the proceeds to expand its sales and operations teams, enhance marketing efforts, acquire vocational education and training institutions in China, and establish new examination centers.
The funds will also support technology R&D and general corporate purposes. WestPark Capital served as the Book-Running Lead Manager. The IPO registration statement became effective on May 14, 2024.
JIADE (Nasdaq: JDZG), a Chengdu-based education support services provider, has successfully closed its initial public offering (IPO), raising $8 million through the sale of 2,000,000 ordinary shares at $4 per share.
The shares began trading on the Nasdaq Capital Market on May 15, 2024, under the ticker symbol 'JDZG'. The company has granted underwriters a 60-day option to purchase an additional 300,000 shares. Proceeds will be used to expand sales and operations, acquire vocational education institutions, establish examination centers, enhance marketing, and invest in technology R&D.
The IPO was managed by WestPark Capital, with Webull Financial as co-manager. Legal counsel was provided by Hunter Taubman Fischer & Li and MagStone Law, LLP. The registration statement was declared effective by the SEC on May 14, 2024.
Chengdu, China, May 15, 2024 -- JIADE ("JDZG"), a provider of comprehensive education support services, announced the pricing of its IPO of 2,000,000 shares at $4.00 per share. The shares will trade on Nasdaq under "JDZG" starting May 15, 2024. The company expects to raise gross proceeds of $8 million before underwriting discounts and related expenses. A 60-day option allows underwriters to purchase an additional 300,000 shares. The IPO is expected to close around May 17, 2024. Proceeds will be used to expand sales, marketing, acquire vocational institutions, establish examination centers, invest in R&D, and for general corporate purposes. WestPark Capital, Inc. is the lead manager, with Webull Financial as co-manager.
