GUANGZHOU, China, Jan. 3, 2023
/PRNewswire/ -- Onion Global Limited (the "Company"), a
next-generation lifestyle brand platform that connects the world's
fresh, fashionable, and future technology-based brands to young
people in China and across
Asia, today announced it was
notified by the New York Stock Exchange ("NYSE") on January 3, 2023, that the staff of NYSE
Regulation has determined to commence proceedings to delist the
American depositary shares of the Company (the "ADSs"), each ten
ADS representing one Class A ordinary shares, and that trading in
the ADSs would be suspended immediately. The NYSE Regulation
reached its decision to delist the ADSs pursuant to Section
802.01C of the NYSE's Listed Company Manual because the
Company had fallen below the NYSE's continued listing standard.
The Company expects to apply for quotation of its ADSs on an
appropriate tier of the OTC Markets. The Company will continue to
comply with the information disclosure obligations under the
applicable federal securities laws and maintain
communication with investors.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. Statements that
are not historical facts, including statements about the Company's
beliefs and expectations, the Company's forecasts, general
observation of the industry and business outlook, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties and a number of factors could
cause actual results to differ materially from those contained in
any forward-looking statement. In some cases, forward-looking
statements can be identified by terminology such as "may," "will,"
"expects," "anticipates," "target," "aim," "future," "intends,"
"plans," "believes," "potential," "estimates" "continue," "is/are
likely to," or other similar statements. Further information
regarding these and other risks is included in Onion Global's
filings with the SEC. All information provided in this press
release and in the attachments is as of the date of this press
release, and Onion Global does not undertake any obligation to
update any forward-looking statement, except as required under
applicable law.
About Onion Global Limited
Onion Global Limited is a next-generation lifestyle brand
platform that connects the world's fresh, fashionable, and future
technology-based brands to young people in China and across Asia. The Company's platform offering an
integrated solution to develop, market and distribute new and
inspiring branded products, thereby reshaping the lifestyle
shopping and consumer culture in China.
For more information, please
visit: http://ir.msyc.com/.
Investor Relations Contact
In China:
Onion Global Ltd.
Investor Relations
E-mail: ir@msyc.cc
jacqueline.peng@msyc.cc
Christensen
Mr. Eric Yuan
E-mail: eric.yuan@christensencomms.com
Tel: +86-10-5900-1548
In the United States:
Christensen
Ms. Linda Bergkamp
E-mail: linda.bergkamp@christensencomms.com
Tel: +1-480-614-3004
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SOURCE Onion Global Limited
