POTENTIAL DEAL DETAILS
|Stock||BlueCity Holdings Limited||Symbol||BLCT|
|Date Announced||04/18/2022||Source||Press Release|
|Type||Unsolicited Bid||Acquiring Company/Person||Multelements Limited|
|Date of Confirmation:||04/30/2022||Price at Confirmation:||$1.26|
|Potential Profit:||-0.79%||Annualized Profit:||-23.95%|
BlueCity Holdings Limited (BLCT), a leading online LGBTQ platform, announced that its Board of Directors has received a preliminary non-binding proposal letter dated April 18, 2022, from Mr. Baoli Ma (the “Founder”) and Metaclass Management ELP, an affiliate of Spriver Tech Limited, with respect to the proposed “going-private” transaction wherein the Buyer Group proposes to acquire all of the outstanding ordinary shares of the Company.
April 30, 2022: BlueCity Holdings Limited (BLCT), announced that it has entered into an Agreement and Plan of Merger with Multelements Limited, Diversefuture Limited, a wholly-owned Subsidiary of Parent, pursuant to which the Company will be acquired by a buyer group in an all-cash transaction implying an equity value of the Company of approximately US$60 million for all of the Company’s outstanding ordinary shares.
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.