Online Education Provider Skillful Craftsman Education Technology Raised $15 Million
Skillful Craftsman Education Technology, which provides online education and technology services in China, has raised $15 million by offering 3 million shares at $5, within the proposed range of $ 4.5 to $5.50.
The Jiangsu, China-based company was founded in 2013 and booked $27 million in revenue for the 12 months ended September 30, 2019. Its education services cover vocational education, continuing education, basic education, and higher education.
The company’s stock is now trading on the Nasdaq Capital Market under the symbol “EDTK.” Benchmark Company, LLC and Axiom Capital Management, Inc. are underwriters of the IPO.
The company engages Ellenoff Grossman & Schole LLP as US Securities Counsel, and BDO China Shu Lun Pan Certified Public Accountants LLP as Independent Auditor.
Its stocks closed at $4.75 on its first day of trading on July 23, 2020, a 5% below its offering price, giving the company a market cap of $59.1 million.
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