111 Inc. has received an unsolicited, preliminary non-binding proposal from its co-founders and Huadeng Tech BioArray Ventures to take the company private at $4.52 per American depositary share, or $0.226 per Class A share, in cash. The buyer group intends to fund the consideration with equity capital, expected to come in the form of rollover equity in the company and cash contributions from the sponsor or its affiliates. Shares of 111 Inc. gained 12% in premarket action on the news. The company cautioned that there can be no assurance a definitive offer will be received, that a definitive agreement will be executed, or that the proposal or any other transaction will be approved or consummated.
111 IncNamed as part of the buyer group proposing to take 111 Inc. private at $4.52/ADS; its own impact is unclear.
