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

  • September 9, 2022


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.

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