Cloopen Sharesholders Approve Private-Market Merger

Cloopen Group Holding Limited (OTC: RAASY) has received overwhelming shareholder support for a merger that will take the company private. On September 24, 2026, shareholders approved a deal in which SummerX Holdings Limited will merge with Cloopen, while AutumnX Holdings Limited will acquire Cloopen as a wholly-owned subsidiary under Cayman Islands law. The transaction, structured under Part 16 of the Companies Act of the Cayman Islands, will result in Cloopen ceasing to trade as a publicly listed entity. As part of the deal, the company’s American Depositary Shares (ADS) will no longer be listed on the OTC Pink Market, and its ADS program will be terminated upon completion. The vote received approximately 99.98% approval, reflecting broad investor backing for the restructuring.