Cloopen Group Holding Limited Completes Privatization via Merger with SummerX Holdings
Cloopen Group Holding Limited (OTC: RAASY), a China-based cloud communications provider, has officially completed its merger with SummerX Holdings Limited. As part of the transaction, Cloopen becomes a wholly-owned subsidiary of HoldCo and will cease to be a publicly traded company on the OTC market. Under the terms of the agreement approved by shareholders in September 2026, ADS holders will receive $2.9641 in cash per ADS. Ordinary shareholders (excluding excluded and dissenting shares) are entitled to receive $0.4940 in cash per share. The merger follows a definitive agreement established in May 2026.
Tickers: $RAASY
Topics: cash acquisition delisting going private merger completion