KongZhong completes going-private transaction
KongZhong completed its merger with Wiseman International, a wholly owned subsidiary of Linkedsee, pursuant to the Agreement and Plan of Merger dated December 1, 2016 by and among the parent, merger sub and the company. As a result of the merger, the company ceased to be a publicly traded company and became a wholly-owned subsidiary of the parent company. Each of the company's ordinary shares, par value $0.0000005 per share, has been cancelled in exchange for the right to receive $0.18875 in cash per Share without interest, and each of the company's ADSs, each representing 40 Shares, has been cancelled in exchange for the right to receive $7.55 in cash per ADS without interest less a 5c per ADS cancellation fee. The company has requested that trading of its ADSs on NASDAQ be suspended as of the close of business of April 13.