On November 21, 2019, GSX Techedu Inc. announced the pricing of its follow-on public offering of 18,000,000 American Depositary Shares (ADSs) sold by several selling shareholders at an offering price of $14.00 per ADS for a total offering size of $252 million (or approximately $289 million if the underwriters fully exercise their options to purchase additional ADSs). Wilson Sonsini Goodrich & Rosati is representing the underwriters in the offering with respect to U.S. law. Credit Suisse Securities (USA) LLC, BofA Securities, Inc., Goldman Sachs (Asia) L.L.C., and Deutsche Bank Securities are acting as underwriters in this offering.

GSX is a technology-driven education company striving to apply the latest technology to improve the mode of teaching delivery, student learning experience and operational efficiency. Its core expertise is online K-12 courses, and it is the third largest online K-12 large-class after-school tutoring service provider in China.

The Wilson Sonsini team representing the underwriters in this follow-on offering includes:

Corporate:
Dan Ouyang, Partner
Weiheng Chen, Partner
Ke Li, Counsel
Qin Zou, Associate
Claire Chen, Associate

Tax:
Myra Sutanto Shen, Partner
Joe Mandry, Associate

For more information, read GSX’s press release.