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111 (YI) Receives Unsolicited Preliminary Non-Binding Proposal to Acquire the Company

  • September 9, 2022

POTENTIAL DEAL DETAILS

Stock111, Inc.SymbolYI
Date Announced09/09/2022Source Press Release
TypeUnsolicited BidAcquiring Company/Person Dr. Gang Yu, co-founder and co-chairman of the Company, Junling Liu, cofounder, co-chairman and CEO of the company

111 Inc. (YI), a leading tech-enabled healthcare platform company in China, announced that its Board of Directors has received an unsolicited preliminary non-binding proposal letter dated September 9, 2022, jointly submitted by Dr. Gang Yu, co-founder and co-chairman of the Company, Junling Liu, cofounder, co-chairman and chief executive officer of the company and Shanghai Guosheng Capital Management, proposing to acquire all of outstanding Class A ordinary shares of the Company, including Class A Shares represented by American depositary shares, that are not currently owned by the Buyer Group in a going-private transaction at a proposed purchase price of US$1.83 per Class A Share or US$3.66 per ADS in cash.

Update(s):

February 27, 2024: 111 (YI), a tech-enabled healthcare platform company in China, announced that Consortium would withdraw its preliminary non-binding going private proposals dated September 9, 2022 and October 29, 2022.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.