111 Inc. Receives Unsolicited Proposal To Be Taken Private

(RTTNews) - 111, Inc. (YI) Friday said it has received an unsolicited preliminary non-binding joint proposal to take it private. The transaction for the tech-enabled healthcare platform is at a price of $1.83 per Class A Share or $3.66 per ADS in cash.

The proposal for the acquisition of all Class A ordinary shares and ADSs were submitted by Gang Yu, co-founder and co-chairman of the company, Junling Liu, co-founder, co-chairman, and chief executive officer of the Company, and Shanghai Guosheng Capital Management Co., Ltd.

Equity financing is expected to be provided in the form of rollover equity and cash contributions from the Sponsor or its affiliates.

The Company will furnish a current report on Form 6-K regarding the Proposal to the SEC.