111, Inc. receives withdrawal of going private proposals

111 , Inc. has received a notice dated Feburary 27 on behalf of the consortium comprising Gang Yu, co-founder and co-chairman of the company, Junling Liu, co-founder, co-chairman and CEO of the company and certain other investors, stating that the consortium would withdraw its preliminary non-binding going private proposal dated September 9, 2022 and preliminary non-binding going private proposal dated October 29, 2022. The Consortium will formally terminate further negotiation with the special committee of the company’s board of directors regarding the transactions as contemplated by the Proposals.