Private education provider Visionary Education Technology Holdings Group (Nasdaq: VEDU) started trading on the Nasdaq Capital Market today. The Canada-based holdings firm aims to raise US$17 million in its debut on the US big board.
The offering consists of 4.25 million common shares at US$4.00 per share, and is expected to close on May 19, 2022.
The company said the proceeds will be intended for public-private partnership projects, course development of its Animation, Art and Design college, vocational education, development of global market and distribution channels, staff development, and general corporate purposes, among others.
Joseph Stone Capital serves as the lead underwriter for the said offering. The underwriter was given a 45-day over-allotment option to purchase up to an additional 15% of the offering size.
The Markham-headquartered education provider covers secondary, undergraduate, graduate, and vocational education for Canadian and international students.
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