MIDDLETOWN, Ohio, March 31, 2021 /PRNewswire/ -- Elite
Education Group International Limited (Nasdaq: EEIQ) ("EEG"), a
provider of comprehensive, one-stop education solutions for Chinese
students interested in study abroad programs in the US and other
countries, today announced that the underwriters of the Company's
completed $6.0 million initial public
offering of 750,000 units have partially exercised their
over-allotment option to purchase an additional 31,343 shares of
common shares at $7.98 per share.
Each unit consists of one common share, one Series A warrant, and
one Series B warrant. As previously announced, the underwriters
have exercised their option to purchase in full (i) Series A
warrants to purchase 112,500 common shares, and (ii) Series B
warrants to purchase 112,500 common shares.
The common shares are listed on the Nasdaq Capital Markets and
began trading under the ticker symbol "EEIQ" on March 25, 2021.
ViewTrade Securities, a global provider of brokerage, investment
banking, corporate/advisory and trading platform services, acted as
sole book-running manager for the offering.
A registration statement on Form F-1 relating to these
securities was declared effective by the Securities and Exchange
Commission ("SEC") on March 24, 2021.
Copies of the registration statement can be accessed by visiting
the SEC's website at www.sec.gov. The offering was made only by
means of a prospectus. A copy of the final prospectus related to
the offering may be obtained by visiting the SEC's website or from
ViewTrade Securities, 7280 W. Palmetto Park Rd, #310, Boca Raton, FL 33433, Attention: Prospectus
Department, or by email at IB@Viewtrade.com.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Elite Education Group International
Limited
Elite Education Group International Limited, through its
subsidiary Quest Holding International LLC, provides comprehensive,
one-stop education solutions for Chinese students who are
interested in study abroad programs in the US and other countries.
We develop specific education goals for each student enrolled in
our program and provide a safe and structured environment to enable
students to pursue their academic goals. Our primary study abroad
partnership is with Miami University of
Ohio where we maintain an office on campus that provides a
wide range of study abroad and post-study services for our
students. For more information, please visit
www.eei-global.net.
Forward Looking Statements
Certain statements in this press release constitute
"forward-looking statements" within the meaning of the federal
securities laws. Words such as "may," "might," "will," "should,"
"believe," "expect," "anticipate," "estimate," "forecast,"
"project," "plan," "intend" or similar expressions, or statements
regarding intent, belief, or current expectations, including the
Company's expectations regarding the proposed offering of the
Company's shares of common stock, including as to the consummation
of the offering described above and the size of the offering are
forward-looking statements. While the Company believes these
forward-looking statements are reasonable, undue reliance should
not be placed on any such forward-looking statements, which are
based on information available to us on the date of this release.
These forward-looking statements are based upon current estimates
and assumptions and are subject to various risks and uncertainties,
including without limitation those set forth in the Company's
filings with the Securities and Exchange Commission, including, but
not limited to, risk factors relating to its business contained
therein. Thus, actual results could be materially different. The
Company expressly disclaims any obligation to update or alter
statements whether as a result of new information, future events or
otherwise, except as required by law.
Contacts
Elite Education Group International Limited:
+1
513-649-8350
ir@eei-global.net
Investor Relations:
Precept Investor Relations LLC
David Rudnick
Account Manager
+1 646-694-8538
david.rudnick@preceptir.com
Media Relations:
Eisenberg Communications
Rick
Eisenberg
+1 917-691-8934
eiscom@msn.com
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SOURCE Elite Education Group International Limited