HANGZHOU, China, Dec. 1, 2020 /PRNewswire/ — Ruhnn Holding Restricted (“ruhnn” or the “Firm”) (NASDAQ: RUHN), a number one web key opinion chief (“KOL”) facilitator in China, as we speak introduced that the impartial particular committee (the “Particular Committee”) of the Firm’s Board of Administrators (the “Board”) has retained Duff & Phelps, LLC as its monetary advisor, and Gibson, Dunn & Crutcher LLP as its U.S. authorized counsel to help the Particular Committee in its analysis and consideration of the beforehand introduced preliminary non-binding proposal from three founders of the Firm, Min Feng, Lei Solar and Chao Shen (along with their respective associates, the “Purchaser Group”) that the Board obtained on November 25, 2020, proposing to amass all excellent Class A odd shares, together with Class A odd shares represented by American depository shares (the “ADSs,” every representing 5 Class A odd shares), and Class B odd shares (along with the Class A odd shares, the “Shares”) of the Firm not already owned by the Purchaser Group for US$3.40 per ADS (or US$0.68 per Share) in money in a going non-public transaction (the “Proposed Transaction”).
The Board cautions the Firm’s shareholders and others contemplating buying and selling in its securities that no choices have been made by the Particular Committee with respect to the Firm’s response to the Proposed Transaction. There may be no assurance that any definitive supply can be made, that any settlement can be entered into or that the Proposed Transaction or every other transaction can be permitted or consummated. The Firm doesn’t undertake any obligation to supply any updates with respect to the Proposed Transaction or every other transaction, besides as required by relevant regulation.
About Ruhnn Holding Restricted
Ruhnn Holding Restricted is a number one KOL facilitator in China. The Firm connects influential KOLs who interact and influence their followers on the web to its huge industrial community to construct the manufacturers of trend merchandise. Ruhnn pioneered the commercialization of the KOL ecosystem in China, and operates beneath each platform and full-service fashions. The Firm’s platform mannequin promotes merchandise offered in third-party on-line shops and gives promoting companies on KOL’s social media areas to third-party retailers. The total-service mannequin integrates key steps of the e-commerce worth chain from product design and sourcing and on-line retailer operations to logistics and after-sale companies. As of September 30, 2020, the Firm had 180 signed KOLs with an combination of 295.3 million followers throughout main social media platforms in China.
For extra info, please go to http://ir.ruhnn.com.
Secure Harbor Assertion
This announcement accommodates forward-looking statements. These statements are made beneath the “protected harbor” provisions of the U.S. Personal Securities Litigation Reform Act of 1995. These forward-looking statements may be recognized by terminology corresponding to “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and comparable statements. Amongst different issues, the enterprise outlook and quotations from ruhnn’s administration in addition to ruhnn’s strategic and operational plans comprise forward-looking statements. Ruhnn may make written or oral forward-looking statements in its periodic experiences to the U.S. Securities and Alternate Fee (“SEC”) on Varieties 20-F and 6-Okay, in its annual report back to shareholders, in press releases and different written supplies and in oral statements made by its officers, administrators or staff to 3rd events. Statements that aren’t historic information, together with statements about ruhnn’s beliefs and expectations, are forward-looking statements. Ahead-looking statements contain inherent dangers and uncertainties. Quite a lot of elements might trigger precise outcomes to vary materially from these contained in any forward-looking statements, together with however not restricted to the next: the Firm’s objectives and techniques; the Firm’s future enterprise improvement, monetary situation and outcomes of operations; developments within the web KOL facilitator trade in China and globally; competitors within the Firm’s trade; fluctuations generally financial and enterprise situations in China; and the regulatory surroundings wherein the Firm operates. Additional info concerning these and different dangers is included within the Firm’s filings with the SEC, together with its registration assertion on Kind F-1, as amended, and its annual experiences on Kind 20-F. All info supplied on this press launch is as of the date of this press launch, and ruhnn doesn’t undertake any obligation to replace any forward-looking statements, besides as required beneath relevant regulation.
For investor and media inquiries, please contact:
Ruhnn Holding Restricted
Senior Director of Investor Relations
The Piacente Group, Inc.
In the US:
The Piacente Group, Inc.
View authentic content material:http://www.prnewswire.com/news-releases/ruhnn-special-committee-retains-financial-advisor-and-legal-counsel-301182280.html
SOURCE Ruhnn Holding Restricted