OneSmart Announces Private Placement of US$25 Million Convertible Notes
by Siyi Zhang
2020-02-29 12:05:15

According to its Website, OneSmart Education announced that it has signed an agreement with its minority shareholder Yiheng Capital Partners on a $25 million private placement of five-year bonds, and the closing of this deal is expected to occur on or around February 28, 2020.

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On February 19th, OneSmart has released its unaudited financial results for the first fiscal quarter ended November 30, 2019, showing the revenue of 797 million yuan with a year-on-year increase of 23.3%. In the next two fiscal quarters, the company is going to invest more in technology development and OMO. 

Currently, with 432 offline centers covering 35 cities across the country, the company aims to accelerate its promotion of the OMO operation model in over 10 cities amid the outbreak of the epidemic, and time will tell whether it’s going to be a success.


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