Smart Share Global Limited announced on August 15, 2025, that its board of directors received a preliminary non-binding proposal from Hillhouse Investment Management, Ltd. to acquire the company. The new proposal offers US$1.77 per American Depositary Share (ADS) or US$0.885 per share in cash.
This new offer from Hillhouse is higher than the US$1.25 per ADS agreed upon in the definitive merger agreement announced on August 1, 2025, with a consortium led by Trustar Mobile Charging Holdings Limited and company management. The Hillhouse proposal is subject to the acceptance by the Management Members of a similar rollover arrangement as in the existing Merger Agreement.
The Special Committee of independent directors, which was formed to evaluate the initial going-private proposal, will continue to consider and evaluate all options in the best interests of shareholders. The Board cautions that no decisions have been made regarding this new proposal, and there is no assurance of a definitive agreement or consummation of any transaction.
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