01:15 PM EDT, 04/08/2025 (MT Newswires) -- Ruanyun Edai Technology (RYET) stock rose in its Nasdaq debut Tuesday after the company overnight priced its initial public offering of 3.75 million shares at $4 apiece.

The stock opened at $7.30 per share, above the IPO price, and was 9.3% higher in recent trading.

The Chinese education technology company said underwriters have a 45-day overallotment option to buy up to 562,500 additional shares.

Ruanyun said the net proceeds from the offering, which is expected to close Wednesday, will be used for research and development of new products and services, marketing and customer services, new content creation, cash reserves, and working capital and general corporate purposes.

Price: 4.37, Change: +0.37, Percent Change: +9.25