RYB Education, Inc. Announces the Approval of Name Change

Rhea-AI Summary

RYB Education, Inc. has officially changed its name to Gravitas Education Holdings, Inc., following shareholder approval on March 13, 2022. The American Depositary Shares, representing Class A ordinary shares, will commence trading under the new name and ticker symbol "GEHI" on or about May 24, 2022. RYB, a prominent early childhood education provider in China, has been recognized for its commitment to high-quality education since its establishment in 1998. This name change signifies a new phase for the company as it continues to enhance its brand in the early childhood education market.

Positive

• Shareholder approval for the name change indicates strong backing from investors.
• The rebranding to Gravitas Education Holdings may enhance market presence and brand recognition.

Negative

• None.

BEIJING, May 13, 2022 /PRNewswire/ -- RYB Education, Inc. ("RYB" or the "Company") (NYSE: RYB), a leading early childhood education service provider in China, today announced that it has changed its name "RYB Education, Inc." to "Gravitas Education Holdings, Inc." with the approval by its shareholders at the extraordinary general meeting held on March 13, 2022.

The American Depositary Shares, each representing one Class A ordinary share of the Company, par value US$0.001 per share, of the Company, are expected to begin trading under the new corporate name on or about May 24, 2022. The Company's ticker will change from "RYB" to "GEHI" on or about May 24, 2022.

About RYB Education, Inc.

Founded on the core values of "Care" and "Responsibility," "Inspire" and "Innovate," 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 "RYB" into a well-recognized education brand and helped bring about many new educational practices in China's early childhood education industry. RYB's comprehensive early childhood education solutions meet the needs of children from infancy to 6 years old through structured courses at kindergartens and play-and-learn centers, as well as at-home educational products and services.

For more information, please visit http://ir.rybbaby.com.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company's brand recognition and market reputation; the Company's growth strategies; trends and competition in China's early childhood education market; changes in its revenues and certain cost or expense items; the expected growth of the Chinese early childhood education market; Chinese governmental policies relating to the Company's industry and general economic conditions in China. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

In China:
RYB Education, Inc.
Investor Relations
E-mail:  ir@rybbaby.com

The Piacente Group, Inc.
Yang Song
Tel: +86 (10) 6508-0677
E-mail: ryb@tpg-ir.com 

In the United States:
The Piacente Group, Inc. 
Brandi Piacente
Tel: +1-212-481-2050
E-mail: ryb@tpg-ir.com

View original content:https://www.prnewswire.com/news-releases/ryb-education-inc-announces-the-approval-of-name-change-301546871.html

SOURCE RYB Education, Inc.

FAQ

What is RYB Education's new name and ticker symbol?

RYB Education has changed its name to Gravitas Education Holdings, Inc. and its ticker symbol will change from RYB to GEHI on or about May 24, 2022.

When was the name change approved by shareholders?

The name change was approved by shareholders at an extraordinary general meeting held on March 13, 2022.

What market does RYB Education operate in?

RYB Education is a leading provider in the early childhood education market in China.

What date will the new ticker symbol for RYB Education begin trading?

The new ticker symbol GEHI is expected to begin trading on or about May 24, 2022.