Hongru Zhou, chairperson of the Board, Ruolei Niu, chief executive officer of Bright Scholar Education Holdings Limited, and several of shareholders, including Excellence Education Investment Limited, Ultimate Wise Group Limited, Sure Brilliant Global Limited signed a preliminary non-binding proposal letter of intent to acquire remaining majority stake in Bright Scholar Education Holdings Limited.

Published: 2025-05-28 09:38:24 ET BEDU

Published on 05/28/2025 at 09:38

Hongru Zhou, chairperson of the Board, Ruolei Niu, chief executive officer of Bright Scholar Education Holdings Limited, and several of shareholders, including Excellence Education Investment Limited, Ultimate Wise Group Limited, Sure Brilliant Global Limited signed a preliminary non-binding proposal letter of intent to acquire remaining majority stake in Bright Scholar Education Holdings Limited (NYSE:BEDU) on May 26, 2025. As part of consideration, an $0.50 per Share value is paid towards common equity of Bright Scholar Education Holdings Limited, subject to certain customary conditions. The price represents (i) a premium of approximately 28.21% to the closing price of the ADSs on May 23, 2025, the last trading day prior to the date of the Proposal and (ii) a premium of approximately 23.58% and 18.08% to the volume-weighted average closing price of the ADSs during the last 30 and 60 trading days, respectively.

According to the Proposal, the Proposed Transaction is intended to be financed with equity and/or debt capital by the Buyer Group. The Board intends to form a special committee consisting of independent and disinterested directors to consider the Proposal. The Board expects that the special committee will retain independent advisors, including independent financial and legal advisors, to assist it in this process.

There can be no assurance that any definitive offer will be made, that any definitive agreement will be executed relating to the Proposed Transaction or that this or any other transaction will be approved or consummated.