Core Viewpoint - Cloopen Group Holding Limited has received a preliminary non-binding proposal from its CEO and Trustbridge Partners to acquire all outstanding Class A and Class B ordinary shares at a price of US$0.4940 per share, representing significant premiums over recent trading prices [1][9]. Proposal Details - The proposed acquisition price of US$0.4940 per Ordinary Share represents a premium of 51.23% to the closing price on the last trading day prior to the proposal and a premium of 74.87% and 86.22% to the volume-weighted average closing prices over the last 15 and 30 trading days, respectively [1][9]. - The total valuation of the company in this proposal is approximately US$155.92 million (equivalent to RMB 1,100 million) [9]. Board's Response - The Board of Directors plans to form a special committee of independent directors to evaluate the proposal and will retain independent financial and legal advisors for assistance [2]. - The Board has not yet reviewed the proposal in detail and has not made any decisions regarding the response to the proposal [3]. Company Overview - Cloopen Group Holding Limited is a leading provider of cloud-based communication solutions in China, offering services such as CPaaS, cloud-based contact centers, and unified communications [4]. - The company's mission is to enhance communication experiences and operational productivity for enterprises, aiming to transform the enterprise communications industry through innovative solutions [4].
Cloopen Announces Receipt of Preliminary Non-Binding "Going Private" Proposal