Zhangmen Education Inc. (ZME) Prices 3.623M ADS IPO at $11.50/Sh

Zhangmen Education Inc. (NYSE: ZME), a leading online education company in China focused on providing personalized online courses to K-12 students, today announced the pricing of its initial public offering (the "IPO") of 3,623,000 American Depositary Shares ("ADSs"), at US$11.50 per ADS, for a total offering size of US$41.7 million, assuming the underwriters do not exercise their option to purchase additional ADSs. Each ADS represents nine Class A ordinary shares of the Company. The ADSs have been approved for listing and are expected to begin trading on the New York Stock Exchange today under the ticker symbol "ZME." The offering is expected to close on June 10, 2021, subject to customary closing conditions.

The Company has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 543,450 additional ADSs at the IPO price.

Morgan Stanley & Co. LLC and Credit Suisse Securities (USA) LLC are acting as active joint bookrunners and representatives of the underwriters for the offering. Citigroup Global Markets Inc., China International Capital Corporation Hong Kong Securities Limited and Macquarie Capital (USA) Inc. are acting as joint bookrunners for this offering. Futu Inc., Tiger Brokers (NZ) Limited and SNB Finance Holdings Limited are acting as co-managers for this offering.

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