| Over a month ago | ||||
So-Young announced that… So-Young announced that it has received a written notification from the staff of the Listing Qualifications Department of Nasdaq Stock, indicating that for the last 30 consecutive business days, the closing bid price of the company's American depositary shares was below the minimum bid price of $1.00 per share requirement set forth in Nasdaq Listing Rule 5450. The Nasdaq notification letter has no current effect on the listing or trading of the company's ADSs on Nasdaq. | ||||
| Over a quarter ago | ||||
So-Young International… So-Young International announced that its board of directors has received a preliminary non-binding proposal letter, dated November 22, 2021, from Mr. Xing Jin, co-founder, Chairman of the Board and Chief Executive Officer of the Company, to acquire all of the outstanding Class A ordinary shares of the Company that are not already owned by Mr. Jin and his affiliates for a purchase price of $5.30 per American Depositary Share, or $6.89 per Class A ordinary share, in cash. The Board has formed a special committee consisting of independent directors Messrs. Charles Zhaoxuan Yang, Chao He and Harry Jiannan Wang to evaluate and consider the Proposal Letter and the Proposed Transaction. The Company cautions that the Board has just received the Proposal Letter and has not made any decisions with respect to the Proposal Letter and the Proposed Transaction. There can be no assurance that the Buyer Group will make any definitive offer to the Company, that any definitive agreement relating to the Proposal Letter will be entered into between the Company and the Buyer Group, or that the Proposed Transaction or any other similar transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required under applicable law. | ||||
