So-young announces receipt of a preliminary non-binding proposal to acquire the company

Beijing, nov. 22, 2021 (globe newswire) -- so-young international inc. (nasdaq: sy) (“so-young” or the “company”), the largest and most vibrant social community in china for consumers, professionals and service providers in the medical aesthetics industry, today announced that its board of directors (the “board”) has received a preliminary non-binding proposal letter (the “proposal letter”), dated november 22, 2021, from mr. xing jin, co-founder, chairman of the board and chief executive officer of the company, to acquire all of the outstanding class a ordinary shares of the company that are not already owned by mr. jin and his affiliates (the “buyer group”) for a purchase price of $5.30 per american depositary share (“ads,” with every 13 adss representing 10 class a ordinary shares), or us$6.89 per class a ordinary share, in cash (the “proposed transaction”). a copy of the proposal letter is attached hereto as exhibit a.
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