ShanghaiJune 25, 2022/ PR Newswire /-- Chinese education and mentoring service provider, Golden Sun Education Group (the "Company" or "Golden Sun") (Nasdaq: GSUN), today announced that it has completed its initial public offering of 5060000 Class A common shares at US $4 per share, including 660000 additional Class A common shares subscribed by its underwriters after fully exercising their previously announced over-allotment rights.
Without deducting underwriter discounts and related offering fees, the company raised a total of $20240000. The Company's Class A common shares were publicly traded on the NASDAQ Capital Market on June 22, 2022 EDT under the symbol "GSUN".
The funds raised in this offering will be used for (I) the acquisition of small language tutoring centers, overseas schools and educational tutoring centers; (ii) the development of small language related courses and the expansion of small language operations centers; (iii) the acquisition of language training and mentoring centers; (iv) the recruitment and retention of teachers and managers; and (v) working capital and general corporate uses.
This issue adopts the underwriting system. Network 1 Financial Securities, Inc., acts as the exclusive underwriter and bookkeeper. Hunter Taubman Fischer & Li LLC acts as the US lawyer for the issuer, and Sichenzia Ross Ference LLP serves as the US lawyer for Leituo Financial Group.
The application registration form for this IPO (file number: 333-255891) has been filed with the Securities and Exchange Commission ("SEC") and announced by SEC on June 21, 2022. The offering is conducted only through a written prospectus. An electronic copy of the final prospectus relating to the issue can be obtained by contacting Leito Financial Group at Karen (Huiyun) Mu,2 Bridge Avenue, Suite 241, Red Bank, NJ 07701, or by e-mail to kmu@netw1.com or by calling + 1 (800)-886-7007. In addition, electronic copies related to this release are also available on the SEC website (www.sec.gov).
This press release does not constitute an invitation to sell or buy, and if the securities laws of any state or jurisdiction make it illegal to make such an offer or sale prior to registration or qualification, such securities may not be sold in those states or jurisdictions.