SHANGHAI, Aug. 17, 2021 /PRNewswire/ — LAIX Inc. (“LAIX” or the “Firm”) (NYSE: LAIX), a man-made intelligence (AI) firm in China that creates and delivers services and products to popularize English studying, right this moment introduced that the particular committee (the “Particular Committee”) of the Firm’s board of administrators has retained Houlihan Lokey (China) Restricted as its monetary advisor and Kirkland & Ellis as its U.S. authorized counsel in reference to its evaluation and analysis of the beforehand introduced non-binding “going personal” proposal from Dr. Yi Wang, co-founder, chairman of the Board and chief govt officer of the Firm, Mr. Zheren Hu, co-founder, director and chief know-how officer of the Firm, Dr. Hui Lin, co-founder, director and chief scientist of the Firm, and PCIL IV Restricted (collectively, the “Purchaser Group”) that the Board obtained on August 4, 2021 (the “Transaction”).
The Board cautions the Firm’s shareholders and others contemplating buying and selling the Firm’s securities that the Particular Committee is constant its analysis of the Transaction and different strategic options of the Firm and that, at the moment, no selections have been made by the Particular Committee with respect to the Firm’s response to the Transaction. Â There will be no assurance that any definitive provide will probably be made by the Purchaser Group, that any settlement will probably be executed with the Purchaser Group or that the Transaction or any comparable transaction will probably be accepted or consummated. Â The Firm doesn’t undertake any obligation to supply any updates with respect to the Transaction or some other transaction, besides as required below relevant regulation.
Protected Harbor Assertion
This announcement comprises forward-looking statements. These statements are made below the “secure harbor” provisions of the U.S. Non-public Securities Litigation Reform Act of 1995. These forward-looking statements will be recognized by terminology corresponding to “will,” “expects,” “anticipates,” “goals,” “future,” “intends,” “plans,” “believes,” “estimates,” “assured,” “potential,” “proceed” or different comparable expressions. LAIX can also make written or oral forward-looking statements in its periodic studies to the U.S. Securities and Alternate Fee, in its annual report back to shareholders, in press releases and different written supplies and in oral statements made by its officers, administrators or workers to 3rd events. Statements that aren’t historic information, together with however not restricted to statements about LAIX’s beliefs and expectations, are forward-looking statements. Ahead-looking statements contain inherent dangers and uncertainties, and quite a lot of components might trigger precise outcomes to vary materially from these contained in any forward-looking assertion, together with however not restricted to the next: LAIX’s targets and methods; LAIX’s future enterprise growth, outcomes of operations and monetary situation; the anticipated progress of the schooling market; LAIX’s capability to monetize the consumer base; fluctuations typically financial and enterprise circumstances in China; the potential affect of the COVID-19 to LAIX’s enterprise operations; PRC governmental insurance policies, legal guidelines and rules regarding the Firm’s trade and the economic system in China and elsewhere typically; and assumptions underlying or associated to any of the foregoing. Additional data relating to these and different dangers is included within the Firm’s filings with the Securities and Alternate Fee. All data offered on this press launch is as of the date of the press launch, and the Firm undertakes no obligation to replace such data, besides as required below relevant regulation.
About LAIX
LAIX Inc. (“LAIX” or the “Firm”) is a man-made intelligence (AI) firm in China that creates and delivers services and products to popularize English studying. Its proprietary AI instructor makes use of cutting-edge deep studying and adaptive studying applied sciences, massive information, well-established schooling pedagogies and the cell web. LAIX believes its revolutionary strategy basically transforms studying. LAIX offers its services and products on demand through its cell apps, primarily its flagship “English Liulishuo” cell app launched in 2013. On the Firm’s platform, AI applied sciences are seamlessly built-in with various studying content material incorporating well-established language studying pedagogies, gamified options and powerful social components to ship an attractive, adaptive studying expertise. LAIX offers quite a lot of programs impressed by a broad vary of subjects and tradition themes to make English studying extra fascinating and is dedicated to providing a enjoyable, interactive studying atmosphere to inspire and have interaction its customers.
For extra data, please go to: http://ir.laix.com.
For investor and media inquiries, please contact:
LAIX Inc.
Jiazhuo Zheng
Investor Relations
E-mail: [email protected]
The Piacente Group Investor Relations
Brandi Piacente
Tel: +1-212-481-2050
E-mail: [email protected]
Emilie Wu
Tel: +86-21-6039-8363
E-mail: [email protected]
SOURCE LAIX Inc.
Associated Hyperlinks
www.liulishuo.com