17 Education & Technology Group, an education technology company in China, filed Form F-1 Registration Statement on November 13, 2020 with the U.S. Securities and Exchange Commission to raise up to $100 million IPO. Pricing terms are yet to announce.
The company delivers data-driven teaching, learning and assessment products to teachers, students and parents across over 70,000 K-12 schools. They covered approximately 56% of the primary schools, 60% of the middle schools and 7% of the high schools using smart in-school classroom solutions.
The Beijing, China-based company was founded in 2012 and booked $151 million in revenue for the 12 months ended September 30, 2020. It plans to list on the Nasdaq Global Market under the symbol “YQ.” Goldman Sachs, Morgan Stanley and BofA Securities are underwriters of the IPO.
The company engages Skadden, Arps, Slate, Meagher & Flom LLP as US Securities Counsel, and Deloitte Touche Tohmatsu Certified Public Accountants LLP as Independent Auditor.
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