JIADE LIMITED Announces Closing of $8 Million Initial Public Offering

Chengdu, China, May 17, 2024 (GLOBE NEWSWIRE) -- JIADE LIMITED (Nasdaq: JDZG) (the “Company” or “JDZG”), a company that specializes in providing one-stop comprehensive education supporting services to adult education institutions, today announced the closing of its initial public offering (the “Offering”) of 2,000,000 ordinary shares at a public offering price of US$4.00 per ordinary share. The ordinary shares began trading on the Nasdaq Capital Market on May 15, 2024 under the ticker symbol “JDZG.”

The Company received aggregate gross proceeds of US$8,000,000 from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company granted the underwriters a 60-day option to purchase up to an additional 300,000 ordinary shares at the public offering price, less underwriting discounts.

Proceeds from the Offering will be used primarily to expand sales and operation teams and enhance marketing efforts, acquire vocational education and training institutions authorized by the People’s Republic of China government and establish 8 to 10 examination centers, and invest in technology research and development, and for working capital and other general corporate purposes.

The Offering was conducted on a firm commitment basis. WestPark Capital, Inc. was the Book-Running Lead Manager for the Offering. Webull Financial LLC was the co-manager. Hunter Taubman Fischer & Li LLC acted as U.S. securities counsel to the Company, and MagStone Law, LLP acted as U.S. counsel to WestPark Capital, Inc. in connection with the Offering.

The registration statement on Form F-1 relating to the Offering was filed with the U.S. Securities and Exchange Commission (the “SEC”) (File Numbers: 333-276283), as amended, and was declared effective by the SEC on May 14, 2024. The Offering was made only by means of a prospectus, forming a part of the registration statement. Copies of the final prospectus relating to the Offering may be obtained from WestPark Capital, Inc. by email at [e-mail], by standard mail to WestPark Capital, Inc., 1800 Century Park East, Suite 220, Los Angeles, CA, 90067, or by telephone at [phone]; or from Webull Financial LLC, by email at [e-mail], by standard mail to Webull Financial LLC, 44 Wall Street 2nd Floor, New York, NY, 10005, or by telephone at [phone]. In addition, copies of the final prospectus relating to the Offering may be obtained via the SEC’s website at www.sec.gov.