Golden Sun Education Group, which operates private schools and provides education services in the Yangtze River Delta, filed on Friday with the SEC to raise up to $23 million in an initial public offering.
The Shanghai, China-based company plans to raise $23 million by offering 5 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Golden Sun Education Group would command a market value of $90 million.
Golden Sun states that it is a premium private education service provider and a leading provider of Spanish tutorial services. The company operates one premium primary private school, one premium secondary private school, three tutorial centers for children and adults, one educational company that offers language classes through partner high schools, and one logistics company that provides services to its schools and tutorial centers.
Golden Sun Education Group was founded in 1997 and booked $14 million in revenue for the 12 months ended September 30, 2020. It plans to list on the Nasdaq under the symbol GSUN. The company filed confidentially on December 18, 2020. Network 1 Financial Securities is the sole bookrunner on the deal.
