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JIADE LIMITED Announces Pricing of Initial Public Offering

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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.

Positive
  • IPO pricing at $4.00 per share.
  • Listing on Nasdaq under ticker 'JDZG' starting May 15, 2024.
  • Expected gross proceeds of $8 million from the IPO.
  • Potential additional 300,000 shares for purchase by underwriters.
  • Proceeds to be used for expanding sales and marketing teams.
  • Plans to acquire vocational education institutions.
  • Establishment of 8 to 10 examination centers.
  • Investment in technology research and development.
Negative
  • Proceeds are gross and do not consider underwriting discounts and related expenses.
  • Future financial performance uncertain post-IPO.
  • The Offering is contingent on customary closing conditions.
  • Potential dilution if additional 300,000 shares are purchased by underwriters.

The announcement of JIADE LIMITED’s initial public offering (IPO) at US$4.00 per ordinary share is a significant development for the company and its future potential. An IPO offers a company a way to raise capital from public investors, which can be used to fund growth and expansion. The raised capital of approximately US$8 million will be strategically allocated to expanding the sales and operations teams, acquiring vocational education and training institutions, establishing examination centers, investing in technology research and development and general corporate purposes. This allocation suggests a strong focus on scaling their operations and enhancing their service offerings.

Investors should note the company's planned use of proceeds: part of the funds will be directed towards enhancing marketing efforts and sales teams, indicating an intent to drive revenue growth through increased market presence. Another significant portion will be dedicated to acquiring institutions authorized by the People’s Republic of China government, which could potentially increase their market share in the adult education sector.

The listing on the Nasdaq Capital Market under the ticker symbol “JDZG” provides the company with enhanced visibility and credibility in the global marketplace. Additionally, the firm commitment basis of the offering, where WestPark Capital, Inc. is the Book-Running Lead Manager and Webull Financial LLC is the co-manager, indicates a solid backing by experienced underwriters, adding confidence in the IPO’s success.

One potential risk to consider is the competitive nature of the education sector in China, which requires the company to effectively leverage the newly raised funds to achieve its growth objectives. Investors should monitor how efficiently JIADE LIMITED allocates its IPO proceeds and achieves projected milestones.

Rating: Positive

The IPO of JIADE LIMITED represents a noteworthy opportunity in the education technology sector. By focusing on adult education supporting services, the company taps into a growing market trend where continuous professional development and vocational training are becoming increasingly important. The decision to use the IPO proceeds to acquire vocational education and training institutions and establish 8 to 10 examination centers aligns well with this trend, potentially providing a competitive edge.

Understanding the broader market context: China's adult education market is expanding due to regulatory support and the rising demand for professional qualifications. The company's strategy to invest in technology research and development highlights an emphasis on modernizing educational delivery, likely improving user experience and engagement.

From a market perspective, JIADE LIMITED’s move to go public could attract attention from both institutional and retail investors who are looking for exposure to the growing education sector in China. However, the overall success will depend on their ability to quickly integrate new acquisitions and scale their operations efficiently.

While there are inherent risks associated with any IPO, such as market volatility and execution risks, the long-term growth potential of the adult education market in China supports a favorable outlook for JIADE LIMITED.

Rating: Positive

Chengdu, China, May 15, 2024 (GLOBE NEWSWIRE) -- JIADE LIMITED (the “Company” or “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.

The registration statement on Form F-1 relating to the Offering was filed with the U.S. Securities and Exchange Commission (the “SEC”) (File Numbers: 333-276283), as amended, and was declared effective by the SEC on May 14, 2024. The Offering is being made only by means of a prospectus, forming a part of the registration statement. Copies of the final prospectus relating to the Offering, when available, may be obtained from WestPark Capital, Inc. by email at syndicate@wpcapital.com, by standard mail to WestPark Capital, Inc., 1800 Century Park East, Suite 220, Los Angeles, CA, 90067, or by telephone at (310) 843-9300; or from Webull Financial LLC, by email at customerservice@webull.com, by standard mail to Webull Financial LLC, 44 Wall Street 2nd Floor, New York, NY, 10005, or by telephone at (917) 725-2448. In addition, copies of the final prospectus relating to the Offering, when available, may be obtained via the SEC's website at www.sec.gov.

Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the Company’s securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation, or sale of any of the Company’s securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

About JIADE LIMITED

JIADE LIMITED specializes in providing one-stop comprehensive education supporting services to adult education institutions, through a wide spectrum of software platform and auxiliary solutions, to meet the evolving needs of their customers in the rapidly changing adult education industry. The Company’s services are primarily offered through the Kebiao Technology Educational Administration Platform (the “KB Platform”), which facilitates streamlined information and data management throughout the teaching cycle of adult education services, from pre-enrollment to post-graduation. The KB Platform supports a broad range of functions, such as enrollment consultation, student information collection, enrollment status management, learning progress management, grade inquiry, and graduation management. The Company also provides auxiliary solutions to adult education institutions, which encompass teaching support services throughout the entire teaching cycle and related exam administration services. The Company places a great premium on technology research and development.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements, including, but not limited to, the Company’s proposed Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the Offering will be successfully completed. Investors can find many (but not all) of these statements by the use of words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may”, or other similar expressions in this press release. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

For more information, please contact:

JIADE LIMITED
Investor Relations Department
Email: kebiao@sckbkj.com

Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com


FAQ

When is JIADE 's IPO?

JIADE 's IPO is set for May 15, 2024.

What is the ticker symbol for JIADE ?

The ticker symbol for JIADE is 'JDZG'.

How many shares are being offered in JIADE 's IPO?

2,000,000 ordinary shares are being offered.

What is the price per share for JIADE 's IPO?

The price per share is $4.00.

How much is JIADE expected to raise from the IPO?

JIADE expects to raise $8 million in gross proceeds.

What will JIADE use the proceeds from the IPO for?

Proceeds will be used for expanding sales teams, acquiring vocational institutions, establishing examination centers, and investing in R&D.

Who is the lead manager for JIADE 's IPO?

WestPark Capital, Inc. is the lead manager.

What are the potential risks of JIADE 's IPO?

Potential risks include underwriting discounts, related expenses, and possible future dilution.

JIADE LIMITED

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