HANGZHOU, China, March 10, 2021 /PRNewswire/ -- Ruhnn Holding
Limited ("ruhnn" or the "Company") (NASDAQ: RUHN), a leading
internet key opinion leader ("KOL") facilitator in China, today announced that it has set
March 10, 2021 as the record date for
the dissemination of Rule 13e-3 Transaction Statement on Schedule
13E-3 (as amended, the "Schedule 13E-3") in connection with a
previously announced "going private" transaction contemplated under
an Agreement and Plan of Merger (the "Merger Agreement") the
Company entered into with RUNION Holding Limited ("Parent") and
RUNION Mergersub Limited, a wholly owned subsidiary of Parent, on
February 3, 2021.
Record holders of the Company's
ordinary shares (including shares represented by American
Depositary Shares of the Company (each, an "ADS")) will each
receive a copy of the Schedule 13E-3. The Company has posted on its
website https://ir.ruhnn.com the Schedule 13E-3, the Merger
Agreement and a plan of merger with respect to the merger (the
"Plan of Merger") and notified the record holders of ordinary
shares via email that the Plan of Merger is available on its
website.
The merger is currently expected to close in April 2021 pursuant to the terms and conditions
set forth in the Merger Agreement. If completed, the merger will
result in the Company becoming a privately held company, and its
ADSs will no longer be listed on the Nasdaq Global Select
Market.
About Ruhnn Holding Limited
Ruhnn Holding Limited is a leading KOL facilitator in
China. The Company connects
influential KOLs who engage and impact their fans on the internet
to its vast commercial network to build the brands of fashion
products. Ruhnn pioneered the commercialization of the KOL
ecosystem in China, and operates
under both platform and full-service models. The Company's platform
model promotes products sold in third-party online stores and
provides advertising services on KOL's social media spaces to
third-party merchants. The full-service model integrates key steps
of the e-commerce value chain from product design and sourcing and
online store operations to logistics and after-sale services. As of
September 30, 2020, the Company had
180 signed KOLs with an aggregate of 295.3 million fans across
major social media platforms in China.
For more information, please visit http://ir.ruhnn.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates" and similar statements. Among other things,
the business outlook and quotations from ruhnn's management as well
as ruhnn's strategic and operational plans contain forward-looking
statements. Ruhnn may also make written or oral forward-looking
statements in its periodic reports to the U.S. Securities and
Exchange Commission ("SEC") on Forms 20-F and 6-K, in its annual
report to shareholders, in press releases and other written
materials and in oral statements made by its officers, directors or
employees to third parties. Statements that are not historical
facts, including statements about ruhnn's beliefs and expectations,
are forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statements, including but not limited to the
following: the possibility that competing offers will be made; the
possibility that financing may not be available; the possibility
that various closing conditions for the transaction may not be
satisfied or waived; and other risks and uncertainties discussed in
documents filed with the SEC by the Company, as well as the
Schedule 13E-3 transaction statement filed by the Company; the
Company's goals and strategies; the Company's future business
development, financial condition and results of operations; trends
in the internet KOL facilitator industry in China and globally; competition in the
Company's industry; fluctuations in general economic and business
conditions in China; and the
regulatory environment in which the Company operates. Further
information regarding these and other risks is included in the
Company's filings with the SEC, including its registration
statement on Form F-1, as amended, and its annual reports on Form
20-F. All information provided in this press release is as of the
date of this press release, and ruhnn does not undertake any
obligation to update any forward-looking statements, except as
required under applicable law.
For investor and media inquiries, please contact:
In China:
Ruhnn Holding Limited
Sterling Song
Senior Director of Investor Relations
Tel: +86-571-2825-6700
E-mail: ir@ruhnn.com
The Piacente Group, Inc.
Emilie Wu
Tel: +86-21-6039-8363
E-mail: ruhnn@thepiacentegroup.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: ruhnn@thepiacentegroup.com
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SOURCE Ruhnn Holding Limited