Elite Education Group International Limited (NASDAQ: EEIQ) is up 3.62% on the chart today, trading at $7.16 at last check-in premarket session. A share of Elite Education stock rose 21.23% on Tuesday, closing the day at $6.91.
The EEIQ stock oscillated between $5.41 and $8.72 during the trading session. There has been no news that would explain the EEIQ stock’s surge, also the company last month listed as an IPO.
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How did things go before?
Elite Education offers comprehensive, one-stop education solutions for Chinese students looking to study abroad in the US and other countries through its subsidiary Quest Holding International LLC. Aside from providing a safe and structured environment for students to achieve their academic goals, EEIQ develops specific education objectives for each student enrolled in its program. Miami University of Ohio is EEIQ’s primary study abroad partner, where it maintains an office on campus providing all kinds of study abroad and post-study services to its students.
Recent sales of 750,000 units, worth $6.0 million, have been completed by Elite Education in its IPO.
- EEIQ reported that IPO underwriters partially exercised their over-allotment option to purchase 31,343 additional shares at $7.98 each.
- Each unit consists of EEIQâ€™s one share of common stock, one warrant of Series A and one warrant of Series B.
- The underwriters have exercised their option to purchase in full:
- The Series A warrants, which entitle them to purchase 12,500 shares of common stock of EEIQ, and
- The Series B warrants, also entitled them to purchase 12,500 shares of common stock of EEIQ.
- The offering was handled by ViewTrade Securities, a leading global broker, investment banker, investment adviser, and trading platform provider, who acted as sole book-runner for Elite Education (EEIQ).