Gravitas Education Announces Merger With Elmtree Inc, Set to Rebrand as Mynd.ai and Trade Under Ticker MYND
Gravitas Education Announces Merger With Elmtree Inc, Set to Rebrand as Mynd.ai and Trade Under Ticker MYND
Gravitas Education Holdings, Inc. (the "Company") (NYSE:GEHI) announced that the effective time of the merger between Bright Sunlight Limited, a Cayman Islands exempted company and a direct, wholly owned subsidiary of the Company (the "Merger Sub") and Elmtree Inc., a Cayman Islands exempted company limited by shares wholly owned by Best Assistant Education Online Limited, a Cayman Islands exempted company ("Best Assistant") and a controlled subsidiary of NetDragon Websoft Holdings Limited (HKEX: 0777, "NetDragon") ("eLMTree") (the "Merger") is expected to be 3:00 A.M. (Eastern Time) on December 13, 2023.
Gravitas Education Holdings, Inc.（以下简称 “公司”）（纽约证券交易所代码：GEHI）宣布，开曼群岛豁免公司、公司直接全资子公司Bright Sunlight Limited（“合并子公司”）与开曼群岛豁免公司Best Assistant Education Online Limited（“最佳助手”）全资拥有的开曼群岛豁免公司Elmtree Inc. 合并的生效时间网龙网络软件控股有限公司（HKEX：0777，“网龙”）（“ElmTree”）（“合并”）的控股子公司预计将于 3:002023 年 12 月 13 日上午（东部时间）。
As a result of the Merger, GEHI will change its corporate name to "Mynd.ai, Inc." and its ticker to "MYND." The CUSIP of the Company's ADSs will be changed to 628988 107. The ISIN of the Company's ADSs will be changed to US6289881079. The ADSs of the Company are expected to start trading on NYSE American under the new name and ticker at the open on December 13, 2023.
合并后，GEHI将把公司名称改为 “Mynd.ai, Inc.”，股票代码改为 “MYND”。该公司ADS的CUSIP将更改为628988 107。该公司 ADS 的 ISIN 将更改为 US6289881079。该公司的ADS预计将于2023年12月13日开盘时以新的名称和股票在纽约证券交易所美国证券交易所开始交易。
The previously announced purchase by an affiliate of Ascendent Rainbow (Cayman) Limited of US$65 million principal amount of secured convertible notes issued by the Company is expected to take place concurrently with the effective time of the Merger.
Ascendent Rainbow（开曼）有限公司的子公司先前宣布购买该公司发行的本金6,500万美元的有担保可转换票据，预计将在合并生效时同时进行。
The previously announced secondary sale between NetDragon WebSoft, Inc. ("ND BVI"), a company incorporated in the British Virgin Islands and a wholly-owned subsidiary of NetDragon, and Joy Year Limited, Bloom Star Limited, Ascendent Rainbow (Cayman) Limited, Trump Creation Limited and China Growth Capital Limited (collectively, the "Founding Shareholders") has completed on December 12, 2023, pursuant to which ND BVI has acquired 8,528,444 Class A ordinary shares of the Company (representing 30% of the outstanding share capital of the Company as of the date hereof) from the Founding Shareholders at an aggregate consideration of US$15 million.
NetDragon WebSoft, Inc.（“ND BVI”）（一家在英属维尔京群岛注册成立的公司，也是网龙的全资子公司）与Joy Year Limited、Bloom Star Limited、Ascendent Rainbow（开曼）有限公司、特朗普创作有限公司和中国成长资本有限公司（统称 “创始股东”）之间先前宣布的二次出售已于2023年12月12日完成，ND BVI据此收购了8,528,4444笔公司A类普通股（占截至本文发布之日公司已发行股本的30％）来自创始股东，总对价为1,500万美元。
The previously announced divestiture by the Company of all its education business in China to Rainbow Companion, Inc., a purchaser consortium formed by the Founding Shareholders and their affiliates at a consideration of US$15 million has completed on December 12, 2023. The Company has ceased to operate any education business in China.
公司此前宣布将其在中国的所有教育业务剥离给Rainbow Companion, Inc.（由创始股东及其关联公司组成的买方财团，对价为1,500万美元）已于2023年12月12日完成。该公司已停止在中国经营任何教育业务。