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Elite Education Group International Limited (EEIQ) stock skyrocketed up to 250% after IPO raising $6M in net proceeds. Here’s What happened

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Elite Education Group International Limited (EEIQ) stock strives to provide quality educational services and solutions to Chinese students who are passionate to study abroad in a globalized environment. EEIQ announced that the company had gained net proceeds of $6.0M after releasing 750,000 units and have used their over-allotment option buying an extra 31,343 common stocks at an average price of $7.98 per stock.

Each unit will be subdivided into two categories, a particular Series A warrant, and a particular Series B warrant. The Series A warrants allows the investor to buy one common EEIQ stock at a discounted price of $5.00 with a maturity time of 5 years. The Series B warrants allows the investor to buy one common share for a rate of $10.00 with a maturity period of 5 years as well however with an added exchange feature allowing the purchaser to convert the warrant into common EEIQ stock.

Elite Education Group International Limited stock was enlisted to Nasdaq on 25th Match ‘21 and was purchased using the ticker symbol “EEIQ”

About Elite Education Group

Quest Holding International is a daughter company of EEIQ. The wholly-owned subsidiary has a partnership with the University of Ohio, which provides 120 under-graduate degrees, 60 graduate and 13 doctorate degrees, guiding students step by step to study abroad by providing services that include accommodation, food and dietary plan, judicial and medical services.

EEIQ is aiming towards diversification through a globalized environment through expanding in various countries such as Hong Kong and Vietnam. Furthermore, it is also expected to offer additional programs such as opening an English language training facility in china.

Conclusion

EEIQ offered a better-than-expected outlook for the current quarter, and are anticipated to produce a decent profit as their stock price surged by 250% after their initial public offering. Furthermore, Global expansion into different countries as well as providing various services to students abroad has targeted a huge demographic in china, with a mass majority of Chinese population being eligible to pursue higher education.

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