Univest Securities, LLC (“Univest”), a member of FINRA and SIPC, and a full-service investment bank and securities broker-dealer firm based in New York, today announced the closing of an initial public offering (the “Offering”) for its client Jianzhi Education Technology Group Company Limited (“Jianzhi” or the “Company”) (NASDAQ: JZ), a leading provider of digital educational content in China. The Company received aggregate gross proceeds of US$25 million of 5,000,000 ADSs of its American Depository Share (“ADS”) at a public offering price of US$5.00 per ADS from this Offering, before deducting underwriting discounts and offering expenses. Each ADS represents two ordinary shares of the Company. In addition, the Company has granted the underwriters the right to purchase up to an aggregate of 750,000 additional ADSs at the public offering price, less underwriting discounts, within 30 days from the date of the final prospectus to cover over-allotments, if any. The Offering closed on August 30, 2022 and the Company’s ADSs began trading on August 26, 2022 on the Nasdaq Global Select Market under the ticker symbol “JZ”.
The Offering was conducted on a firm commitment basis. Univest Securities, LLC acted as the sole book runner to the Offering. Kirkland & Ellis International LLP served as counsel to the Company, and Sidley Austin LLP served as counsel to Univest Securities, LLC.
A registration statement on Form F-1 (File No. 333-257865) relating to the Offering, as amended, has been filed with the U.S. Securities and Exchange Commission (“SEC”) and was declared effective by the SEC on August 25, 2022, U.S. Eastern time. The Offering was made only by means of a prospectus forming a part of the registration statement. A final prospectus relating to the Offering, filed with the SEC on August 26, 2022, may be obtained from Univest Securities, LLC by email at info@univest.us, or by standard mail to Univest Securities, LLC, 75 Rockefeller Plaza Suite 18C, New York, NY 10019. In addition, a copy of the final prospectus relating to the Offering, may be obtained via the SEC’s website at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Univest Securities, LLC
Registered with FINRA since 1994, Univest Securities, LLC provides a wide variety of financial services to its institutional and retail clients globally including brokerage and execution services, sales and trading, market making, investment banking and advisory, wealth management. It strives to provide clients with value-add service and focuses on building long-term relationship with its clients. For more information, please visit: www.univest.us.
About Jianzhi Education Technology Group Company Limited
Headquartered in Beijing and established in 2011, Jianzhi is a leading provider of digital educational content in China and has been committed to developing educational content to fulfill the massive demand for high-quality, professional development training resources in China. Jianzhi started operations by providing educational content products and IT services to higher education institutions. Jianzhi also provides products to individual customers. Leveraging its strong capabilities in developing proprietary professional development training content and success in consolidating educational content resources within the industry, Jianzhi has successfully built up a comprehensive, multi-dimensional digital educational content database which offers a wide range of professional development products. Jianzhi embed proprietary digital education content into the self-developed online learning platforms, which are provided to a wide range of customers through its omni-channel sales system. Jianzhi is also fully committed to the digitalization and informatization of the education sector in China. For more information, please visit: www.jianzhi-jiaoyu.com.
Forward-Looking Statements
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may, “will, “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the registration statement filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. Univest Securities LLC and the Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
For more information, please contact:
Univest Securities, LLC
Edric Guo
Chief Executive Officer
75 Rockefeller Plaza, Suite 18C
New York, NY 10019
Phone: (212) 343-8888
Email: info@univest.us