The shareholder vote clears the final major regulatory hurdle for the going-private transaction. Monitor for the closing of the merger and the effective date of ADS delisting, which will determine the final cash-out price for remaining public shareholders.
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Executive Summary
Cloopen Group Holding Limited announced that shareholders voted overwhelmingly (99.98% of votes cast) to approve the merger agreement with SpringX Holdings Limited, AutumnX Holdings Limited, and SummerX Holdings Limited, moving the company toward going private. The merger will delist the ADSs from the OTC Pink Market and terminate the ADS program, ending the company's public trading life. This is the final major shareholder approval step in the going-private process initiated by the founder and CEO.
Key Facts
- Shareholders approved the merger agreement with approximately 99.98% of votes cast at the extraordinary general meeting held September 24, 2026.
- The merger will result in Cloopen becoming a privately-owned company, wholly-owned by HoldCo (AutumnX Holdings Limited).
- Upon completion, Cloopen's ADSs will no longer be quoted on the OTC Pink Market and the ADS program will be terminated.
- The merger is with entities SpringX Holdings Limited (Parent), AutumnX Holdings Limited (HoldCo), and SummerX Holdings Limited (Merger Sub).
Financial Impact
No financial terms of the merger were disclosed in this filing. The merger price and consideration are not stated.
Risk Factors
- The merger may not close if closing conditions are not satisfied or waived, though the 99.98% approval vote makes this unlikely.
- The merger consideration (not disclosed in this filing) may be below the price at which some shareholders acquired their shares.
- Post-merger, the ADSs will be delisted and the company will cease to be a public reporting entity, eliminating liquidity for remaining holders.
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001493152-26-044059 |
| Exhibit: ex99-1.htm | 0001493152-26-044059 |
| Document: 0001493152-26-044059-index-headers.html | 0001493152-26-044059 |
| Document: 0001493152-26-044059-index.html | 0001493152-26-044059 |
| Document: 0001493152-26-044059.txt | 0001493152-26-044059 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 24, 2026 4w ago | 6-K | $2.58 | awaiting T+60 | — | $2.58 (−0.00%) |
May 12, 2026 24w ago | 6-K | $2.35 $2.08 | ▼ −11.49% | ▼ −15.87% | $2.58 (+9.79%) |
May 8, 2026 24w ago | 6-K | $1.41 $2.07 | ▲ +46.81% | ▲ +42.42% | $2.58 (+82.98%) |
May 8, 2026 24w ago | 20-F | $1.35 $2.07 | ▼ −53.33% | ▼ −48.49% | $2.58 (−91.11%) |
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