Chinese education software provider Ruanyun Edai Technology revives $17 million US IPO with revised terms

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Ruanyun Edai Technology, a Chinese provider of AI-driven learning and testing solutions for K-12 education, lowered the proposed deal size for its upcoming IPO on Friday. Prior to todays filing the company had not updated its prospectus since April 2023, and as such, the SEC declared the IPO abandoned in February 2024. At the midpoint of the revised range, Ruanyun Edai Technology will raise -39% less in proceeds than previously anticipated and command a market value of $152 million. Through its SmartHomework solution, teachers can use collected data to adjust instructions for students based on their specific needs. Ruanyun Edai Technology was founded in 2012 and booked $9 million in sales for the 12 months ended March 31, 2024.

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