NetClass Technology (2024 New Filing) Plans $10 Million IPO for Week of October 21st (NTCL)

NetClass Technology (2024 New Filing) (NTCL) is planning to raise $10 million in an initial public offering on the week of October 21st, IPO Scoop reports. The company will issue 1,800,000 shares at $5.00-$6.00 per share.

In the last year, NetClass Technology (2024 New Filing) generated $11.1 million in revenue and $160,000 in net income. The company has a market cap of $97 million.

Revere Securities acted as the underwriter for the IPO.

NetClass Technology (2024 New Filing) provided the following description of their company for its IPO: “We offer, through our subsidiaries in the People’s Republic of China (PRC), a variety of SaaS subscription services to schools, training institutions, corporations, government agencies and other institutions, and corporate customers in China. (Incorporated in the Cayman Islands) Through our operating subsidiaries located in Hong Kong and PRC, namely, NetClass HK, NetClass Education, NetClass Management, NetClass Training and NetClass HR, we are mainly engaged in offering online professional education platform and related courseware, as well as data management system. We provide smart education IT solutions to schools, training institutions, corporations, government agencies (mainly Shanghai Municipal Education Commission), and other institutions or corporate customers. Our services include SaaS subscription services and application software development. Our products   include modules such as teaching management, campus management, online teaching, online examination, epidemic prevention, EDC (Education Credit) blockchain system, and lecturer evaluation services. These modules are powered by the mobile Internet, cloud computing, and big data technologies. Our mission is to provide high-quality and reliable products to our customers to maintain sustainable business growth over the long term. Note: Net income and revenue are in U.S. dollars are for the 12 months that ended Sept. 30, 2023. (Note: NetClass Technology, Inc. filed its F-1 for a new IPO – 1.8 million shares at a price range of $5.00 to $6.00 to raise $10.0 million – on March 25, 2024. The company also withdrew its 2023 IPO plans, in a separate filing with the SEC. The prospectus for the now-withdrawn 2023 IPO showed that NetClass Technology had planned to offer 3.8 million shares at a price range of $4.00 to $5.00 to raise $17.0 million.)   “.

NetClass Technology (2024 New Filing) was founded in 2003 and has 41 employees. The company is located at 6F, Building A 1188 Wan Rong Road Shanghai, People’s Republic of China 200436 and can be reached via phone at +86-021-61806588 or on the web at http://www.netclass.cn/.