111 Announced Receipt Of Withdrawal Of Going Private Proposal

Author: Charles Gross | February 27, 2024 08:08am

111, Inc. ("111" or the "Company") (NASDAQ:YI), a leading tech-enabled healthcare platform company committed to digitally connecting patients with medicine and healthcare services in China, today announced that it has received a notice dated Feburary 27, 2024 on behalf of the consortium comprising Dr. Gang Yu, co-founder and co-chairman of the Company, Mr. Junling Liu, co-founder, co-chairman and chief executive officer of the Company and certain other investors (collectively, the "Consortium"), stating that the Consortium would withdraw its preliminary non-binding going private proposal dated September 9, 2022 and preliminary non-binding going private proposal dated October 29, 2022 (collectively, the "Proposals"). The Consortium will formally terminate further negotiation with the special committee of the Company's board of directors regarding the transactions as contemplated by the Proposals.

Posted In: YI