Flex Class To Delist From Secondary Markets, MINI-IPO Around The Corner
By: Flex Class Holdings Inc.
Post delisting, the company will file its Form A with the SEC to initiate its mini-ipo process. The company is planning to raise US $6 million as an expansion capital.
The last recorded valuation on March 25, 2017 will be taken as final and the shares will be offered at the price matching the valuation.
The company will file for OTC markets listing post its mini-ipo.
As of today, the company's last recorded valuation on the secondary markets is trailing above US $700 million or Rs. 4,500 crore.
It is some of these metrics that would have helped Flex Class garner its current valuation, as experts feel that none of the business to consumer (B2C) startups in education technology space have been able to prove a credible business model.
The company, which already has presence in the Indian and Middle East markets, is looking to expand to the USA, UK, South Africa and other the African and Commonwealth markets.
The immediate focus for Flex Class is to expand its user base in India, even as it plans for an international expansion which will take 18 months.