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Stock impact report

Ambow Education Receives Bid for Company's Assets in China [MarketWatch]

Ambow Education Holding Ltd. American Depository Shares, each representing two Class A ordinary shares (AMBO) 
US:NYSE Investor Relations: mzcan.com/us/ambo/irwebsite
Company Research Source: MarketWatch
Sep 20, 2022 (PRNewswire via COMTEX) -- PR Newswire BEIJING, Sept. 20, 2022 BEIJING, Sept. 20, 2022 /PRNewswire/ -- Ambow Education Holding Ltd. ("Ambow" or the "Company") (NYSE American: AMBO), today announced that its board of directors (the "Board") has received a preliminary non-binding proposal letter (the "Proposal Letter") from Clover Wealth Limited ("SPV") to acquire all of the Company's business assets in China. The sale of these assets is in-line with applicable PRC's regulatory requirements introduced in 2021. Dated September 13, 2022, the Proposal Letter outlines the SPV's intent to acquire (i) all of the equity interests in WFOEs and VIEs of the Company, and (ii) all of the intellectual properties used in the conduct of business of WFOEs and VIEs and owned by a subsidiary of the Company (the entities and assets described in (i) and (ii), representing substantially all assets of the Company other than the Company's U.S. assets, collectively the "Target"). The purcha Show less Read more
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