Cloopen shareholders approve merger that will take company private

Cloopen Group Holding Limited (OTC: RAASY) announced that its shareholders voted to approve a merger agreement at an extraordinary general meeting held Sept. 24, 2026, in Beijing.

The merger agreement, involving SpringX Holdings Limited as parent, AutumnX Holdings Limited as HoldCo, and SummerX Holdings Limited as the merger subsidiary, received approximately 99.98% of total votes cast at the meeting.

Under the terms of the agreement, SummerX Holdings Limited will merge with and into Cloopen, with Cloopen surviving as a wholly-owned subsidiary of AutumnX Holdings Limited. All entities involved are exempted companies incorporated under the laws of the Cayman Islands.

If the merger is completed, Cloopen will become a privately-owned company. Its American depositary shares will no longer be quoted on the OTC Pink Market, and its ADS program will be terminated. The company said it will work with the other parties toward completing the merger in accordance with the agreement.

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