RUHN - Ruhnn gets preliminary non-binding Going Private proposal for $3.4/ADS

Ruhnn Holding (RUHN) has received a preliminary non-binding proposal letter  (on Nov. 25, 2020) from three founders of the Company, Min Feng, Lei Sun and Chao Shen.The founders are proposing to acquire all outstanding Class A ordinary shares, including Class A ordinary shares represented by ADS, and Class B ordinary shares of the Company not already owned by the Buyer Group for US$0.68/share (or $3.40/ADS) in cash in a going private transaction.The Board has formed a special committee to evaluate and consider the Proposed Transaction.Shares +6% premarket.

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Ruhnn gets preliminary non-binding "Going Private" proposal for $3.4/ADS