Financial Briefs, Oct. 26, 2018

October 26, 2018 | Volume 49, Number 21

Higher education courseware distributor RedShelf (Chicago) in October closed a $25 million Series C financing led by an entity advised by DNS Capital. The new financing will fuel employee growth, product innovation, customer service, and market expansion at Red Shelf, which was founded in 2012. The company currently partners with more than 600 campus bookstores and offers more than 500,000 digital titles across 400 publishers. As the higher education market transitions from print to digital, Red Shelf’s user growth has doubled year-over-year since 2012 and is expected to increase even more significantly in 2019.Several new investors also participated in the Series C round including former COO and CTO of Morningstar Tao Huang, CEO of Trading Technologies Rick Lane, and executive chairman and co-founder of Shiftgig Eddie Lou. Managing director of DNS Capital, Charles Tollinche, will be joining RedShelf’s board of directors. 

EdtechX Holdings Acquisition Corp. (London, UK) in October closed its initial public offering of 5,500,000 units at $10 per unit. Each unit consists of one share of common stock of the company and one redeemable warrant entitling the holder to purchase one share of common Stock at a price of $11.50 per share. The stock began trading Oct. 17 on Nasdaq under the symbol EDTX. The stock price held steady at $9.55 through Oct. 22. Of the proceeds received from the consummation of the initial public offering and a simultaneous private placement of warrants, $55,825,000 was placed in trust. EdtechX Holdings Acquisition Corp. is a blank check company organized for the purpose of effecting a business combination with one or more target businesses. Though not limited particular industries or regions, EdtechX  intends to focus its search for target businesses in the education, training and education technology industries.

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