LAIX - LAIX STOCK NEWS

LAIX Inc. (NYSE: LAIX) announced a significant change to the ratio of its American Depositary Shares (ADSs) to its Class A ordinary shares, shifting from a 1:1 to a 1:14 ratio. This reverse ADS split, effective around March 4, 2022, requires holders to exchange 14 existing ADSs for one new ADS. The trading price of the ADSs is expected to rise proportionally, though no guarantees are made. The change will not affect the underlying Class A shares, nor will any fractional new ADSs be issued. Deutsche Bank will manage the exchange process.

LAIX Inc. (NYSE: LAIX), an AI company focused on English learning, received a non-compliance letter from the NYSE due to its American depositary shares (ADSs) trading below $1.00. The letter, dated September 17, 2021, grants LAIX a cure period until March 17, 2022, to raise its average trading price above this threshold. The company is evaluating market conditions and its options for compliance. If it fails to meet the criteria by the deadline, LAIX could face suspension and delisting from the NYSE.

LAIX Inc. (NYSE: LAIX) announced on September 13, 2021, it received a notification from the NYSE regarding non-compliance with listing standards due to low market capitalization and stockholders' equity. As of September 7, 2021, LAIX's average market cap was approximately $49.7 million, below the $50 million threshold, and its reported stockholders' equity was $(104.7) million. The company has until December 8, 2021, to submit a business plan to demonstrate compliance, with a cure period expiring on March 8, 2023.

LAIX Inc. (NYSE: LAIX), an AI-driven English learning company in China, has formed a Special Committee to assess a non-binding "going private" proposal received from its co-founders and a buyer group on August 4, 2021. The Committee has engaged Houlihan Lokey as its financial advisor and Kirkland & Ellis as legal counsel. Shareholders are cautioned that no definitive decision has been made regarding the proposal and that its outcome remains uncertain.

LAIX Inc. (NYSE: LAIX), an AI-driven English learning company in China, has formed a special committee to evaluate a preliminary non-binding proposal received on August 4, 2021. This committee consists of independent directors Dr. Li-Lan Cheng and Ms. Min (Jenny) Zhang. The Board has advised shareholders that no decisions regarding the proposal have been made, and there is no assurance of a definitive agreement or the completion of any transaction. LAIX continues to focus on providing innovative and engaging English learning experiences through its flagship mobile app, 'English Liulishuo.'

LAIX Inc. (NYSE: LAIX) announced that its board received a non-binding proposal from its founders and Primavera Capital Group to acquire all outstanding shares at $1.13 per share, offering a 15% premium over the recent trading average. A special committee will evaluate the proposal, and no decisions have been made yet regarding its acceptance. The buyer group collectively controls approximately 39.8% of LAIX's shares and aims to maintain control post-acquisition. The proposal is subject to further due diligence and the signing of definitive agreements.

LAIX reported its Q1 2021 financial results, achieving a net income of RMB12.2 million (US$1.9 million), a significant turnaround from the net loss of RMB34.7 million in Q4 2020 and RMB197.0 million in Q1 2020. The gross margin rose to 77.6%, an increase from 75.4% in the prior quarter. However, both gross billings (RMB154.4 million) and net revenues (RMB198.5 million) saw declines of 9.8% and 15.7%, respectively, quarter-over-quarter. The company anticipates Q2 revenues between RMB160.0 million and RMB180.0 million, indicating a further potential decline.

LAIX Inc. (NYSE: LAIX) will release its first quarter 2021 unaudited financial results on May 26, 2021, post U.S. market close. The earnings conference call is scheduled for 9:00 PM ET on the same day. Investors can access the call through dial-ins provided for the U.S., international, and Mainland China. LAIX specializes in AI-driven English learning services and operates the 'English Liulishuo' app. More details can be found on the company’s investor relations website.

LAIX Inc. has announced the filing of its annual report on Form 20-F with the SEC, including audited financial statements for the three years ending December 31, 2020. The report was filed on April 29, 2021, and is available on the Company's website. LAIX, an AI-driven English learning platform in China, utilizes advanced technologies to offer engaging and adaptive learning experiences. Shareholders can request a free hard copy of the report via Investor Relations.