Welcome to our dedicated page for Gridsum Holding news (Ticker: GSUM), a resource for investors and traders seeking the latest updates and insights on Gridsum Holding stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Gridsum Holding's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Gridsum Holding's position in the market.
Gridsum Holding Inc. (NASDAQ: GSUM) has completed its merger with Gridsum Growth Inc., becoming a wholly-owned subsidiary of Gridsum Corporation. Shareholders will receive US$2.00 per ordinary share or American depositary share (ADS), minus cancellation fees and applicable taxes. Trading of GSUM's ADSs has been suspended, and a deregistration notice has been filed with the SEC. Following this, Gridsum plans to terminate its reporting obligations under the Securities Exchange Act of 1934. This marks a significant transition for the company as it delists and moves towards private ownership.
Gridsum Holding Inc. (NASDAQ:GSUM) announced that its shareholders have overwhelmingly approved a merger agreement with Gridsum Corporation and Gridsum Growth Inc. during an extraordinary general meeting held on February 22, 2021. Approximately 99% of the total votes cast supported the merger, which will result in Gridsum becoming a wholly owned subsidiary of Gridsum Corporation and transitioning to a private company. Following the merger's completion, Gridsum's American depositary shares will be delisted from stock exchanges.
Gridsum Holding Inc. (NASDAQ: GSUM) announced an extraordinary general meeting (EGM) for shareholders on February 22, 2021, to vote on a proposed merger agreement dated September 30, 2020. Upon completion, Gridsum will become a privately held company, leading to the delisting of its American depositary shares (ADSs) from NASDAQ. The Board unanimously approved the merger, urging shareholders to vote in favor. Holders of ADSs as of January 27, 2021, can instruct their depositary to vote on their behalf at the meeting.
Gridsum Holding (NASDAQ: GSUM) reported a net revenue increase of 1% to RMB 129.4 million (US$18.3 million) for H1 2020. Enterprise revenues fell 31% to RMB 81.9 million due to a strategic shift towards higher-margin solutions amid a softening Chinese economy. E-Government revenues surged 307% to RMB 48.5 million, driven by growth in Legal solutions. Net loss narrowed to RMB 180.7 million (US$25.6 million) from RMB 284.9 million in 2019. The company is undergoing a going-private transaction with a cash valuation of US$75.5 million, expected to close in Q1 2021.
On October 1, 2020, Gridsum Holding Inc. (NASDAQ: GSUM) received confirmation from Nasdaq that it has regained compliance with the minimum bid price requirement of $1.00 per American depositary share (ADS). This follows a prior deficiency notice issued on April 17, 2020. The company’s ADSs maintained the necessary closing bid price for ten consecutive days from September 15 to September 30, 2020. Gridsum is known for its cloud-based big data analytics and AI solutions in China, aiming to enhance decision-making for enterprises and government agencies.
Gridsum Holding Inc. (NASDAQ: GSUM) announced a definitive agreement to merge with an investor consortium led by Chairman Guosheng Qi. The all-cash transaction values the company at approximately US$75.5 million, with shareholders entitled to US$2.00 per ordinary share or American depositary share (ADS) in exchange for their stakes. This represents a premium of 217.5% over the last closing price before the proposal. The merger is expected to close in Q1 2021, pending customary conditions and shareholder approval.
