Cloopen Announces Appointment of Independent Financial Advisor and Legal Counsel to the Special Committee

Rhea-AI Summary

Cloopen (OTC: RAASY) announced on January 8, 2026 that its Board special committee retained Kroll, LLC as financial advisor and Hogan Lovells as U.S. legal counsel to evaluate a preliminary non-binding proposal dated December 22, 2025. The Special Committee is continuing its review of the Proposal and has made no decision. The Board cautioned that there is no assurance a definitive offer, agreement, approval, or consummation will occur, and the company will provide updates only as required by law.

Positive

• Special Committee retained Kroll as financial advisor
• Special Committee retained Hogan Lovells as U.S. legal counsel
• Formal review process in place for the December 22, 2025 Proposal

Negative

• Company states no decision has been made on the Proposal
• No assurance a definitive offer, agreement, or transaction will occur

BEIJING, Jan. 8, 2026 /PRNewswire/ -- Cloopen Group Holding Limited (OTC: RAASY) ("Cloopen" or the "Company") today announced that the special committee (the "Special Committee") of the Company's board of directors (the "Board"), which was formed to evaluate and consider the previously announced preliminary non-binding proposal letter dated December 22, 2025 (the "Proposal"), has retained Kroll, LLC as its financial advisor, and Hogan Lovells as its U.S. legal counsel.

The Special Committee is continuing its review and evaluation of the Proposal. The Board cautions the Company's shareholders and others considering trading the Company's securities that no decisions have been made with respect to the Proposal. There can be no assurance that any definitive offer will be received, that any definitive agreement will be executed relating to the transaction contemplated by the Proposal, or that the transaction contemplated by the Proposal or any other similar transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to any transaction, except as required under applicable law. 

About Cloopen Group Holding Limited

Cloopen Group Holding Limited is a leading multi-capability cloud-based communications solution provider in China offering a full suite of cloud-based communications solutions, covering communications platform as a service (CPaaS), cloud-based contact centers (cloud-based CC), and cloud-based unified communications and collaborations (cloud-based UC&C). Cloopen's mission is to enhance the daily communication experience and operational productivity for enterprises. Cloopen aspires to drive the transformation of enterprise communications industry by offering innovative marketing and operational tactics and SaaS-based tools.

For more information, please visit https://ir.yuntongxun.com. 

Forward-Looking Statements

This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Cloopen may also make written or oral forward-looking statements in its reports filed with or furnished to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about Cloopen's beliefs and expectations as well as its financial outlook, are forward-looking statements. These forward-looking statements are based on Cloopen's current expectations and involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in Cloopen's filings with the SEC. All information provided in this press release is current as of the date of the press release, and Cloopen does not undertake any obligation to update such information, except as required under applicable law. All forward-looking statements are qualified in their entirety by this cautionary statement, and you are cautioned not to place undue reliance on these forward-looking statements.

For investor and media inquiries, please contact:

Cloopen Group Holding Limited
Investor Relations
Email: ir@yuntongxun.com 

 

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SOURCE Cloopen Group Holding Limited

FAQ

Who did Cloopen (RAASY) appoint to advise the Special Committee on the December 22, 2025 proposal?

The Special Committee retained Kroll, LLC as financial advisor and Hogan Lovells as U.S. legal counsel.

What is the status of the proposed transaction for Cloopen (RAASY) as of January 8, 2026?

The Special Committee is continuing its review and no decision has been made regarding the Proposal.

Does Cloopen (RAASY) guarantee a definitive offer or transaction following the Special Committee review?

No. The company cautioned there is no assurance a definitive offer, agreement, approval, or consummation will occur.

Will Cloopen (RAASY) provide ongoing updates about the Proposal?

The company said it does not undertake an obligation to provide updates except as required under applicable law.

When was the preliminary non-binding proposal under review by Cloopen (RAASY) dated?

The preliminary non-binding proposal was dated December 22, 2025.