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Nanchang, China, April 07, 2025 (GLOBE NEWSWIRE) -- Ruanyun Edai Technology Inc. (“Ruanyun” or the “Company”), a leading artificial intelligence (AI) technology company focused on K-12 education in China, today announced the pricing of its initial public offering (the “Offering”) of 3,750,000 ordinary shares (the “Ordinary Shares”) at a public offering price of $4.00 per share. The Company expects to receive aggregate gross proceeds of approximately $15,000,000, before deducting underwriting discounts and other offering expenses. The Ordinary Shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on Apr. 8, 2025, under the ticker symbol “RYET”. The Offering is expected to close on Apr. 9, 2025, subject to customary closing conditions. In addition, the Company has granted the underwriters an option (the “Over-Allotment Option”), exercisable within 45 days from the closing date of the Offering, to purchase up to an additional 562,500 Ordinary Shares at the public offering price, less underwriting discounts, to cover over-allotments, if any.
The net proceeds from the Offering will be used for (i) research and development of new products and services; (ii) marketing and customer services; (iii) new content creation; (iv) cash reserves; and (v) working capital and general corporate purposes, including, without limitation, costs to set up two additional regional offices.
The Offering is being conducted on a firm commitment basis. AC Sunshine Securities LLC (“AC Sunshine”) is acting as the sole book-running manager for the Offering. K&L Gates LLP is acting as U.S. securities counsel to the Company, and Hunter Taubman Fischer & Li LLC is acting as U.S. securities counsel to AC Sunshine in connection with the Offering.
A registration statement on Form F-1 (File No. 333-281857) relating to the Offering, as amended, has been filed with the U.S. Securities and Exchange Commission (the “SEC”) and was declared effective by the SEC on 3/31/2025. The Offering is being made only by means of a prospectus. Copies of the prospectus related to the Offering may be obtained, when available, from AC Sunshine Securities LLC, by standard mail at 200 E. Robinson Street, Suite 295, Orlando, FL 32801, via email at prospectus@acsunshine.com, or by telephone at +1 (689)-689-9686. Additionally, a copy of the final prospectus relating to the Offering, when available, may also 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 has been prepared for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these 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 any such state or jurisdiction.