Flex Class Holdings Inc. Gain $3 bn Market Cap In Three Days
Last week, the company’s market cap dipped below $1 bn on the OTC Premarkets on account of heavy short selling and bulk exit by the investors, but the stock came back strongly to reach back to $4 bn market cap figure, a net addition of $3 bn.
Overall, the company has lost 95% in market cap in the last one year, the valuation peaked to $41.85 bn in March, 2017 but crashed shortly after touching the record number.
Flex Class Holdings, a provider of MOOC courses and developer of other educational content provider, acting as the backend content provider to several government projects in African and Asian countries is facing pressure from the existing investors over delayed listing on the US stock exchanges and adoption of blockchain technology for its proposed ICO. The investors who were expecting timely exit at a premium are locked in the company.
The Flex Class idea of ICO did not went well with the investors and the company was forced to withdraw it, but in early May this year the company again finalized ICO offering instead of the direct listing on the US markets. The confusion over stock exchange listing and replacement of common stock with the tokens resulted in panic selling.
According to the insiders, Flex Class may dispose off 48% equity to a set of private investors and the negotiations are on.
Through an email questioner sent to EGW Capital Inc., the advisors for the stake sale confirmed that the negotiations are on, however, they declined to comment on the acquisition value.
According to the market experts, the 48% stake sale will happen in the range of $300-$400 mn and will constitute of both cash and stock component and the valuation on OTC Premarkets may correct sharply.
The investors will use an SPV for the acquisition and will eventually list the holding company on the US stock exchanges.
A pioneer in online education for professionals, we create course programs, exams, and lab projects that help professionals across the world successfully prepare for and complete certification exams with ease. Our unique blended model of training brings together the best of self-learning and online training, making for a successful learning experience.
We strive to constantly improve our learning frameworks to make them more user-friendly. Our courses are upgraded continuously to ensure our learners are up-to-date on the latest industry requirements and best practices.
We assist our learners in applying for the certification exam of their choice, and our vibrant community of experts and certified professionals is a powerful resource pool of tips, tricks, and insightful advice.
Flex Class India
Postal Address: Statesman House Connaught Place New Delhi - 110001
Press Contact: Thomas Mueller
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