Smart Share Global Limited, known as Energy Monster, announced on January 6, 2025, that its board of directors received a preliminary non-binding proposal to acquire all outstanding ordinary shares not already beneficially owned by a buyer group. The proposal, dated January 5, 2025, offers US$0.625 per ordinary share or US$1.25 per American Depositary Share (ADS) in cash.
The buyer group consists of Trustar Mobile Charging Holdings Limited, along with Energy Monster's Chairman and CEO Mr. Mars Guangyuan Cai, President Mr. Peifeng Xu, Chief Marketing Officer Mr. Victor Yaoyu Zhang, and CFO Ms. Maria Yi Xin. This proposed purchase price represents a 74.8% premium to the closing price on the last trading day prior to the proposal date.
In response to the proposal, the Board has formed a special committee comprising three independent and disinterested directors to evaluate the offer. The committee intends to retain independent financial and legal advisors to assist in its assessment of the transaction.
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