|
---
Go
to Home Page
m
|
|
Business :- Online testing/education industry.
|
Listing :- Nasdaq
|
Symbol:- "ATAI"
|
|
|
|
The Offering
( can be change at last moment, subject to demand ) |
|
ATA
Inc., or ATA, is offering 4,874,012 American depositary shares, or ADSs.
Each ADS represents two common shares. |
|
Common shares outstanding after this offering :- |
There
will be 43,378,710 common shares outstanding immediately
after this offering, or 44,840,912
common shares if the underwriters exercise their option to
purchase additional ADSs in full. In addition,
there are outstanding options and warrants to purchase an
aggregate of 5,114,411 common shares, including
options and warrants to purchase an aggregate of 3,604,041
common shares immediately exercisable.
|
|
Offer
price range :- $9.50
and $11.50
per ADS |
|
The
underwriters have an option to purchase up to an
additional 731,101
ADSs from company, to cover over-allotments. |
|
|
----------------------------------------------------------------------
----------------------------------------------------------------------
Objects
of issue
Company
estimate to receive net proceeds from this offering of
approximately $43.8 million, or approximately $50.9 million if
the underwriters exercise their over-allotment option in full,
after deducting underwriting discounts and other estimated
offering expenses payable by company and assuming an initial
public offering price of $10.50 per ADS, the mid-point of the
estimated range of the initial public offering price. Company anticipate using
the net proceeds from this offering as follows:
-
Approximately
$2 million to develop and expand it's test preparation
solutions business;
-
Approximately
$2 million to license course content from IT vendors to
expand degree major and single course program offerings;
-
Approximately
$1 million for marketing costs related to enhancing it's "ATA'' brand;
-
To
fund working capital and for other general corporate
purposes, including incremental costs associated with
being a public company, and for acquisitions of or
investments in other businesses, products or technologies.
Company do not currently have any agreements or
understandings to make any material acquisitions of, or
investments in, other businesses. The occurrence of new
business opportunities, unforeseen events or changed
business conditions may result in application of the
proceeds from this offering in a manner other than as
described.
----------------------------------------------------------------------
----------------------------------------------------------------------
This
article reflects personal view of the author about the
company and one must read offer prospectus and consult
its financial adviser before making any investment
decision
TOP
|
|
