Smart Share Global Says it Has Received Preliminary Buyout Proposal; Shares Rise Pre-Bell

MT Newswires Live01-06

Smart Share Global (EM) said Monday its board has received a preliminary non-binding proposal from Trustar Mobile Charging and its affiliates for the latter to acquire all remaining shares of the company that they do not yet own.

The proposed price for the takeover is $0.625 per ordinary share, or $1.25 per American depositary share, in cash. The consideration represents a 74.8% premium to the company's closing price on the last trading day prior to the date of the proposal, the company said.

A special committee of three independent directors has been formed to evaluate the proposal, the company said, adding that there can be no assurance that any definitive offer will be received.

Shares of the company rose more than 43% in recent premarket activity Monday.

Price: 1.03, Change: +0.31, Percent Change: +43.06

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