Bright Scholar Announces Receipt of Withdrawal of Going Private Proposal
Bright Scholar Education Holdings Limited (NYSE: BEDU) announced on December 30, 2022, that the Buyer Group, composed of Huiyan Yang and Meirong Yang, has officially withdrawn their non-binding proposal to privatize the company. The initial proposal was submitted on April 29, 2022. Bright Scholar remains focused on its mission to provide quality international education and equip students with essential skills. The company emphasizes its commitment to business development and acknowledges potential risks associated with forward-looking statements.
- Continued focus on providing quality international education.
- Withdrawal of the privatization proposal could indicate lack of investor confidence.
- Uncertainty around future business development due to withdrawal.
FOSHAN, China, Dec. 30, 2022 /PRNewswire/ — Bright Scholar Education Holdings Limited ("Bright Scholar" or the "Company") (NYSE: BEDU), a global premier education service company, today announced that it has received a letter dated December 29, 2022 from Ms. Huiyan Yang and Ms. Meirong Yang (collectively, the "Buyer Group"), informing the Company the decision of the Buyer Group to withdraw the non-binding going private proposal (the "Proposal") dated April 29, 2022 and forego the Proposal to privatize the Company.
About Bright Scholar Education Holdings Limited
Bright Scholar is a global premier education service company, which primarily provides quality international education to global students and equip them with the critical academic foundation and skillsets necessary to succeed in the pursuit of higher education.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company's business plans and development, which can be identified by terminology such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.
IR Contact:
GCM Strategic Communications
Email: BEDU.IR@gcm.international
Media Contact:
Email: media@brightscholar.com
Phone: +86-757-6683-2507
View original content:https://www.prnewswire.com/news-releases/bright-scholar-announces-receipt-of-withdrawal-of-going-private-proposal-301711338.html
SOURCE Bright Scholar Education Holdings Ltd.
FAQ
What is the latest news regarding Bright Scholar Education Holdings Limited (BEDU)?
Who withdrew the privatization proposal for Bright Scholar (BEDU)?
How does the withdrawal of the privatization proposal affect BEDU's stock?
When was the privatization proposal for BEDU initially made?
