NetClass Technology, a Shanghai-based company, provides professional education software and services through its subsidiaries in the People’s Republic of China (PRC). The company has recently revised its IPO terms, now aiming to raise $9 million by offering 1.8 million shares at a price range of $4 to $6. This is a change from its previous plan to offer the same number of shares at a range of $5 to $6. At the midpoint of the revised range, NetClass Technology will raise 9% less in proceeds than originally expected.
The company’s services include SaaS subscription services and application software development, with products like teaching management, campus management, and online teaching modules. Founded in 2003, NetClass Technology generated $11 million in revenue for the 12 months ending September 30, 2023. The company plans to list on the Nasdaq under the symbol NTCL, with Revere Securities acting as the sole bookrunner on the deal.
