YXT.com Group Holding Limited Announces Closing of Initial Public Offering
Rhea-AI Summary
YXT.com Group Holding announced the closing of its initial public offering (IPO), raising approximately US$25.0 million in gross proceeds. The offering included 2,273,000 American depositary shares (ADSs) at US$11.00 per ADS, each representing three Class A ordinary shares. The ADSs began trading on the Nasdaq Global Market under the ticker symbol YXT on August 16, 2024.
The underwriters, Kingswood Capital Partners, , and Tiger Brokers (NZ) , have an option to purchase up to 340,950 additional ADSs within 30 days from the final prospectus date. The company plans to use the offering proceeds to expand its market presence in the digital corporate learning industry in China.
The registration statement for the offering was declared effective by the United States Securities and Exchange Commission (SEC). For more information, contact Kingswood Capital Partners,
Positive
- Raised approximately US$25.0 million in gross proceeds.
- IPO successfully closed with ADSs trading on Nasdaq under YXT.
- Potential for additional proceeds with the option to purchase up to 340,950 additional ADSs.
Negative
- Underwriting discounts and commissions will reduce net proceeds.
News Market Reaction – YXT
On the day this news was published, YXT declined 2.42%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
SUZHOU, China, Aug. 22, 2024 (GLOBE NEWSWIRE) -- YXT.com Group Holding Limited (“YXT.com” or the “Company”), a leader and disruptor of the digital corporate learning industry in China, today announced that its previously announced initial public offering (the “Offering”) of 2,273,000 American depositary shares (“ADSs”) at a price of US
The Company raised a total of approximately US
Kingswood Capital Partners, LLC, and Tiger Brokers (NZ) Limited acted as underwriters for the Offering. Kingswood Capital Partners, LLC acted as the representative of the underwriters.
A registration statement related to these securities has been filed with, and declared effective by, the United States Securities and Exchange Commission (the “SEC”). This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
This Offering was made only by means of a prospectus forming a part of the effective registration statement. A copy of the final prospectus relating to the Offering may be obtained, when available, by contacting Kingswood Capital Partners, LLC at 126 E 56th St, 22nd Floor, New York, NY 10022, or by telephone at 800-535-6981 or by e-mailing info@kingswoodus.com.
About YXT.com
As a technology company, YXT.com provides corporations with digital corporate learning solutions, including SaaS platforms, learning content, and other services. YXT.com is a leader and disruptor of the digital corporate learning industry in China. Established in 2011, YXT.com has supported Fortune 500 companies and other leading companies with their transformation and digitalization of learning and development, and has received recognition, respect and recurring business.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to”, or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.
Contact
Robin Yang
ICR, LLC
YXT.IR@icrinc.com
+1 (646) 405-4883
FAQ
When did YXT.com close its IPO?
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