05:40 PM EDT, 04/09/2025 (MT Newswires) -- Ruanyun Edai Technology ( RYET ) closed its initial public offering of 3.75 million shares at $4 apiece, raising $15 million in gross proceeds.

The underwriters were granted a 45-day option to purchase up to an additional 562,500 shares at the public offering price to cover any overallotments, the company said Wednesday in a statement.

The shares debuted on the Nasdaq on Tuesday.

The stock closed down 6% at $4.24 in the regular session on Wednesday.