Breaking News: Smart Share Global Limited Receives Exciting Offer to Acquire Company!
SHANGHAI, Jan. 06, 2025 (GLOBE NEWSWIRE)
Smart Share Global Limited (Nasdaq: EM) (“Energy Monster” or the “Company”), a consumer tech company providing mobile device charging service, today announced that its board of directors (the “Board”) has received a preliminary non-binding proposal letter (the “Proposal Letter”), dated January 5, 2025, from Trustar Mobile Charging Holdings Limited (together with its affiliates, “Trustar Capital”), Mr. Mars Guangyuan Cai, Chairman of the Board and Chief Executive Officer of the Company, Mr. Peifeng Xu, Director and President of the Company, Mr. Victor Yaoyu Zhang, Chief Marketing Officer of the Company, and Ms. Maria Yi Xin, Director and Chief Financial Officer of the Company (the “Buyer Group”), to acquire all of the outstanding ordinary shares of the Company (the “Ordinary Shares”), including the Class A ordinary shares represented by the American Depositary Shares of the Company (the “ADSs”, each representing two Class A ordinary shares), that are not already beneficially owned by the Buyer Group for a proposed purchase price of US$0.625 per Ordinary Share or US$1.25 per ADS in cash (the “Proposal”). The proposed price represents a 74.8% premium to the closing price on the last trading day prior to the date of this proposal and a premium of 68.1% and 70.1% to the volume-weighted average price during the last 30 and 60 trading days, respectively. A copy of the Proposal Letter is attached hereto as Exhibit A.
Smart Share Global Limited, known as ‘Energy Monster’, a leading company in the field of mobile device charging services, has recently received a buyout offer that has shaken the industry. Trustar Mobile Charging Holdings Limited, along with its affiliates, has extended a preliminary proposal to acquire all outstanding shares of Smart Share Global Limited that are not currently owned by the Buyer Group. The proposed purchase price of US$0.625 per Ordinary Share or US$1.25 per ADS represents a significant premium to the recent trading prices of the company’s shares.
This acquisition offer comes at a time when Smart Share Global Limited has seen significant growth and expansion in its market presence. With its innovative approach to mobile device charging and a loyal customer base, the company has caught the attention of industry players looking to capitalize on its success.
The board of directors at Smart Share Global Limited will carefully consider the proposal from Trustar Capital and evaluate its implications for the company, its shareholders, and the overall direction of the business. While the deal is still in the preliminary stages, it has the potential to reshape the landscape of the mobile device charging industry and open up new opportunities for growth and development.
How will this affect me?
As an individual consumer, this acquisition may not have an immediate impact on you. However, if you are a shareholder of Smart Share Global Limited, this news could significantly affect the value of your investment. It is important to stay informed about the developments in the company and evaluate the potential outcomes of the acquisition on your financial interests.
How will this affect the world?
The acquisition of Smart Share Global Limited by Trustar Capital could have broader implications for the world of consumer tech and mobile device charging services. It may lead to increased competition in the industry, drive innovation, and shape the future trends in mobile device charging technology. The combination of these two companies could create a powerhouse in the market, with the potential to influence the way consumers access and use charging services globally.
Conclusion:
In conclusion, the offer made to Smart Share Global Limited by Trustar Capital marks a significant development in the company’s journey and has the potential to bring about transformative changes in the industry. As stakeholders wait for further updates on the acquisition proposal, it is clear that the outcome of these discussions will have ripple effects that extend beyond the business itself. We will continue to monitor the situation and anticipate the impact it will have on the future of mobile device charging services.
