Gridsum announces shareholder approval of merger agreement

Gridsum announced that at an extraordinary general meeting of shareholders, the company's shareholders voted in favor of, among other things, the proposal to authorize and approve the previously announced agreement and plan of merger, dated as of September 30, 2020, by the company, Gridsum Corporation and Gridsum Growth, pursuant to which merger sub will merge with and into the company, with the company continuing as the surviving company and becoming a wholly owned subsidiary of parent, the plan of merger required to be filed with the Registrar of Companies of the Cayman Islands and the transactions contemplated by the merger agreement and the plan of merger, including the merger. Completion of the merger is subject to the satisfaction or waiver of the closing conditions set forth in the merger agreement. The company will work with the other parties to the merger agreement towards satisfying the closing conditions and complete the merger in a timely manner. If and when the merger is completed, the company will become a private company and its ADSs will no longer be listed or traded on any stock exchange, and the company's ADS program will be terminated.