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Chinese digital textbook provider Jinxin Technology prices downsized US IPO at the $4 low end

December 6, 2024
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Jinxin Technology Holding, which provides a digital textbook and educational content platform for K-9 students in China, raised $5 million by offering 1.3 million ADSs at $4, the low end of the range of $4 to $5. The company offered 0.4 million fewer ADSs than anticipated. The IPO float is just 2.0% of basic shares outstanding.

Jinxin Technology provides a digital textbook platform and digital educational content for K-9 students in China. The company collaborates with textbook publishers in China to provide digital version of mainstream textbooks used in primary and middle schools. It also creates and develops digital self-learning contents and leisure reading materials in-house. The company distributes content primarily through its flagship learning app, Namibox; telecom and broadcast operators; and third-party devices.

Jinxin Technology Holding plans to list on the Nasdaq under the symbol NAMI. Craft Capital Management, WestPark Capital, and R.F. Lafferty & Co. acted as joint bookrunners on the deal.