Zhangmen Education Inc, a Chinese online education company, has filed Amendment No 2 to Form F-1 Registration Statement on June 3, 2021 with the U.S. Securities and Exchange Commission to announce terms for its IPO.
The company plans to raise $43 million by offering 3.6 million shares at a price range of $11 to $13. Assuming a successful IPO at the midpoint of the proposed price, the company expects a market capitalization of $1.9 billion.
The company provides personalized online courses to K-12 students, according to the Frost & Sullivan Report. Their core course offerings encompass one-on-one and small-class after-school tutoring services covering all core K-12 academic subjects.
The Shanghai, China-based company was founded in 2014 and booked $660 million in sales for the 12 months ended March 31, 2021. It plans to list on the NYSE under the symbol “ZME.” Morgan Stanley, Credit Suisse, Citi, CICC, Macquarie Capital, Futu Securities, Tiger Brokers, and Snowball Securities are underwriters of the IPO.
The company engages Skadden, Arps, Slate, Meagher & Flom LLP as US Securities Counsel, and Deloitte Touche Tohmatsu Certified Public Accountants LLP as Independent Auditor.
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