12:54 PM EST, 12/13/2024 (MT Newswires) -- Netclass Technology (NTCL) shares were up Friday in their trading debut on Nasdaq after the company priced 1.8 million Class A shares at $5.00 per share in its initial public offering.

The shares were up over 5% at $5.27 in recent trading after opening at $5.25.

Underwriters, including Newbridge Securities and Revere Securities, have been granted a 45-day option to buy up to 270,000 additional shares, the company said.

The offering is expected to close Monday.

Net proceeds will be used for the development of its courseware and online technology platform, expansion of application development and subscription services, among other purposes, according to the company.

Price: 5.27, Change: +0.27, Percent Change: +5.40