TuanChe Limited ("TuanChe" or the "Company") (NASDAQ: TC), a leading omni-channel automotive marketplace in China, today announced that its board of directors (the "Board") has received a preliminary non-binding proposal letter (the "Proposal") dated January 21, 2021 from its chairman and chief executive officer, Mr. Wei Wen ("Mr. Wen"), proposing to acquire all of the outstanding ordinary shares (the "Shares") of the Company, including Shares represented by American depositary shares (the "ADSs," each representing sixteen (16) Class A ordinary shares), that are not already owned by Mr. Wen for a purchase price of US$4.25 per ADS in cash in a going private transaction (the "Proposed Transaction"), subject to certain conditions. A copy of the Proposal is attached hereto as Annex A.
Shares of TuanChe (NASDAQ:TC) were unchanged after the company reported Q3 results.Quarterly Results Earnings per share were flat 0.00% over the past year to ($0.02), which beat the estimate of ($0.24).Revenue of $14,733,000 declined by 22.33% from the same period last year, which beat the estimate of $12,790,000.Looking Ahead Q4 revenue expected to be between $21,356,000 and $22,829,000.How To Listen To The Conference Call Date: Dec 18, 2020View more earnings on TCTime: 07:30 AMET Webcast URL: https://78449.choruscall.com/dataconf/productusers/tc/mediaframe/42425/indexr.htmlRecent Stock Performance Company's 52-week high was at $6.65Company's 52-week low was at $0.67Price action over last quarter: Up 58.49%Company Overview TuanChe Ltd is an omnichannel automotive marketplace in China. The company operates in two business divisions including Offline Marketing Services and Virtual dealership, online marketing services and others. It organizes auto shows, which aim at facilitating transactions between consumers and auto dealers that includes auto dealers, automakers and automotive service providers. It provides services through its online platform and offline events. Geographically the company generates revenue from the China market.See more from Benzinga * Click here for options trades from Benzinga * Apogee Enterprises: Q3 Earnings Insights * 12 Information Technology Stocks Moving In Friday's Pre-Market Session(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
NEW YORK, NY / ACCESSWIRE / December 18, 2020 / TuanChe Ltd.