Bluecity enters into definitive agreement for going-private transaction

Beijing, april 30, 2022 (globe newswire) -- bluecity holdings limited (“bluecity” or the “company”) (nasdaq: blct), a leading online lgbtq platform, today announced that it has entered into an agreement and plan of merger (the “merger agreement”) with multelements limited (“parent”), diversefuture limited, a wholly-owned subsidiary of parent (the “merger sub”), pursuant to which the company will be acquired by a buyer group in an all-cash transaction (the “merger”) implying an equity value of the company of approximately us$60 million for all of the company's outstanding ordinary shares (each, a “share”).
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