Smart Share Global Limited announced on August 1, 2025, that it has entered into a definitive Agreement and Plan of Merger to be acquired by a consortium of investors. The transaction implies an equity value for the company of approximately US$327 million.
Under the terms of the Merger Agreement, each American Depositary Share (ADS) will be cancelled in exchange for US$1.25 in cash, and each ordinary share will receive US$0.625 in cash. This consideration represents an 8.7% premium to the closing price of the company's ADSs on July 31, 2025.
The acquiring consortium includes Trustar Mobile Charging Holdings Limited and key Energy Monster executives: Chairman and CEO Mr. Mars Guangyuan Cai, President Mr. Peifeng Xu, Chief Marketing Officer Mr. Victor Yaoyu Zhang, and CFO Ms. Maria Yi Xin. The merger is expected to close during the fourth quarter of 2025.
The Board approved the Merger Agreement based on the unanimous recommendation of its Special Committee, which negotiated the terms with independent financial and legal advisors. Funding for the merger will come from cash contributions from consortium members, a committed term loan from Bank of China Limited, Shanghai Branch, and rollover equity contributions.
The merger is subject to customary closing conditions, including authorization and approval by at least two-thirds of shareholder votes, and that dissenting shares constitute less than 15% of total outstanding shares. As of July 31, 2025, consortium members and rollover shareholders beneficially own approximately 64% of the company's voting rights.
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