Visionary Education Technology Holdings Group, which provides secondary and post-secondary education services in Canada, lowered the proposed deal size for its upcoming IPO on Monday.
The Markham, Canada-based company now plans to raise $17 million by offering 4.3 million shares at a price of $4. The company had previously filed to offer 5 million shares at a range of $4 to $5. At the revised price, Visionary Education Technology Holdings Group will raise 24% less in proceeds than previously anticipated.
The company offers private online and in-person education services to Canadians and international students, as well as immigration and study visa services, student housing, career guidance, internship, and entrepreneurship guidance. Its educational programs include Ontario Secondary School Diploma, career-oriented two-year college and four-year university diploma programs, vocational education programs, and master programs.
Visionary Education Technology Holdings Group was founded in 2013 and booked $9 million in revenue for the 12 months ended September 30, 2021. It plans to list on the Nasdaq under the symbol VEDU. Joseph Stone Capital is the sole bookrunner on the deal.
