RISE Education Cayman Ltd (REDU) stock has seen an increase of 9.45% in premarket despite any official news. However, the last trading session closed at $0.51 with a decrease of 0.59%.
Nasdaq Notice – What’s up?
REDU announced on 18th January 2022 that the company has received Nasdaq notice of Non-compliance and Non-binding Proposals for a Business Combination. The Nasdaq Stock Market LLC informed the Company that its Listing Qualifications department had decided that the Company’s securities would be delisted unless the Firm filed a review before a Nasdaq Hearings Panel in a timely manner.
Closure of Sale of Rising – More About it
On 30th December 2021, REDU announced the closure of the Sale of Rising. The company has sold all the equity interests to Wuhan Xinsili Culture Development Co., Ltd and Bain Capital Rise Education IV Cayman Limited. Not only this but the settlement with lenders ended in connection with the Sale on December 30, 2021. As part of the Settlement, the Lenders have ceded all interests in the Edge business, which provides admission counseling, academic tutoring, and test prep solutions to students planning to study abroad in Hong Kong and Singapore.
About REDU
RISE presents a highly dynamic American K-12 curriculum based on tight requirements while delivering interactive multimedia to kids both in and out of the classroom, based on HMHG’s professional experience and great goods. Moreover, REDU has become a progressive household name in the English language learning sector after ten years of growth.
Not only this but REDU provides youngsters with the opportunity to learn English in a fun and fully immersive setting that will pique their interest in the subject. RISE not only improves children’s language skills, but also teaches them how to comprehend the logic, cultural nuances, and reasoning procedures that underpin language. Lastly, RISE also emphasizes the development of leadership abilities in children, such as teamwork, presentation, project management, problem-solving, and creativity.
