Ruanyun Edai Technology Inc. (RYET), the parent of a Chinese EdTech company, priced its IPO at $4.00 – the low end of its $4.00-to-$5.00 range – and sold 3.75 million shares – the number in the prospectus – to raise $15.0 million on Monday night, April 7, 2025. At pricing, Ruanyan Edai Technology had a market cap of $135.0 million. Ruanyan Edai Technology (RYET) shares opened at $7.30 – up $3.30 for an 82.5 percent gain from their $4.00 IPO price – at 12 p.m. (NOON) EDT today – Tuesday, April 8, 2025, on NASDAQ volume of 166,585 shares, according to NASDAQ. By 12:26 p.m. EDT, Ruanyan Edai Technology shares had given up most of their gains to trade at around $4.19. Just before 2 p.m. EDT, Ruanyan Edai Technology’s stock was trading at $4.05, up about 1 percent, on NASDAQ.
Shares of Ruanyun Edai Technology closed at $4.51 – up 51 cents from their IPO price for a 12.75 percent gain on their first day of NASDAQ trading – on Tuesday, April 8, 2025.
AC Sunshine Securities acted as the sole underwriter.
Ruanyun Edai Technology Inc. (RYET) is “a data driven artificial intelligence, or A.I., technology company focused on kindergarten through year twelve, or K-12 education in China,” the prospectus said. The company, incorporated in the Cayman Islands, is based in Jiangxi, China.
“We believe we are a trend-setter in reforming the traditional education model in China using the technological progress brought about by the advent of A.I. technology. We believe we are the only educational A.I. company in China that serves both everyday learning and (the) Academic Proficiency Test in school. We provide computerized testing for China’s Academic Proficiency Test, or ATP, which is equivalent to the SAT in China,” Ruanyun Edai Technology said in the prospectus.
Ruanyun Edai Technology sells its products and services “through two primary product lines, namely our SmartExam® solution and SmartHomework® solution. Our SmartHomework® solution delivers personalized learning solutions for students to study more effectively. Teachers can adjust instructions for students based on their specific needs. In addition, our SmartExam® solution helps deliver China’s Academic Proficiency Test, which is required in China for obtaining a high-school diploma, in computer-based format. We also provide self-learning solutions and smart-devices, such as smart printer / smart headset for everyday study and test preparation,” the prospectus said.
The company is not profitable. Ruanyun Edai Technology reported a net loss of $2.1 million on revenue of $9.15 million for the 12 months that ended March 31, 2024, according to the prospectus.
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