Taomee Holdings receives $3.59/ADS go private proposal
Benson Haibing Wang, a director and the chief executive officer of the company, Roc Yunpeng Cheng, a director and the president of the company, and affiliates of the foregoing, Orient Securities Ruide (Shanghai) Investment Management, a subsidiary of Orient Securities company, together with Benson Haibing Wang and Roc Yunpeng Cheng, are consortium members.
According to the proposal letter, the consortium members intend to form an acquisition vehicle for the purpose of implementing the Transaction, and have agreed to work with each other exclusively in pursuing the Transaction.
The consortium members intend to finance the transaction with a combination of equity capital funded by the consortium members and third-party debt. ■