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NETCLASS TECHNOLOGY INC Announces Full Exercise of Over-Allotment Option

Barchart·01/03/2025 15:05:00
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SHANGHAI and HONG KONG, Jan. 03, 2025 (GLOBE NEWSWIRE) -- NETCLASS TECHNOLOGY INC (the “Company” or “NETCLASS”), a leading B2B smart education IT solutions provider with offices in Shanghai, Hong Kong, and Singapore, today announced that the underwriters of its previously announced initial public offering (the “Offering”) have exercised their over-allotment option (the “Over-Allotment Option”) in full to purchase an additional 270,000 Class A ordinary shares at the public offering price of $5.00 per share, resulting in additional gross proceeds of $1.35 million. After giving effect to the full exercise of the Over-Allotment Option, the total number of ordinary shares sold by the Company in the Offering increased to 2,070,000 Class A ordinary shares and the gross proceeds increased to $10.35 million, before deducting underwriting discounts and other related expenses. The Over-Allotment Option closing date was January 03, 2025. Shares of the Company’s stock began trading on the Nasdaq Capital Market under the symbol “NTCL” on December 13, 2024.

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