GEHI Announces Plan for Closing of Merger and Transfer to NYSE American
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As previously announced, a special cash dividend of
The Company also announced that it has entered into a second omnibus amendment and waiver (the "Second Amendment Agreement"), pursuant to which the transaction parties have agreed, among other things, to change the acceptable listing venue of the Company, to amend certain condition precedent to Closing and to amend and waive certain condition precedent to the sale of the Company's shares by certain existing shareholders of the Company pursuant to a share purchase agreement dated April 18, 2023, as amended, to NetDragon. Pursuant to the Second Amendment Agreement, the transaction parties have agreed that in addition to New York Stock Exchange (the "NYSE"), NYSE American LLC ("NYSE American") and any tier of the Nasdaq Stock Market are also the qualified stock exchanges on which the Company may be listed in connection with the Merger.
The Company further announced that it will transfer the listing of its ADSs from the NYSE to NYSE American upon completion of the Merger. The Company has received the approval for listing from the staff of the NYSE American on December 6, 2023. The Company expects to begin trading on the NYSE American on or about December 13, 2023 under the new name "Mynd.ai, Inc." and the new ticker symbol of "MYND". Before that, the Company will continue to trade on NYSE under its current ticker symbol "GEHI".
About Gravitas Education Holdings, Inc.
Founded on the core values of "Care" and "Responsibility," "Inspire" and "Innovate," Gravitas Education Holdings, Inc. (formerly known as RYB Education, Inc.) is a leading early childhood education service provider in China. Since opening its first play-and-learn center in 1998, the Company has grown and flourished with the mission to provide high-quality, individualized and age-appropriate care and education to nurture and inspire each child for his or her betterment in life. During its two decades of operating history, the Company has built itself into a well-recognized education brand and helped bring about many new educational practices in
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the
CONTACT: Gravitas Education Holdings, Inc., Investor Relations, E-mail: ir@geh.com.cn
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SOURCE Gravitas Education Holdings Inc.
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