Home Therapy fund Ucommune announces extraordinary general meeting and reverse stock split

Ucommune announces extraordinary general meeting and reverse stock split

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BEIJING, March 15, 2022 /PRNewswire/ — Ucommune International Ltd. UK (“Ucommune” or the “Company”), a leading manager and provider of agile office space in Chinatoday announced that an extraordinary general meeting of the Company (the “Meeting”) will be held at 10 a.m. to April 21, 2022, beijing time (10 p.m. to April 20, 2022US Eastern Time) at 8th Floor, No.2 Guanghua Road, Chaoyang District, Beijing, China. The purpose of the meeting is to consolidate 20 ordinary shares with a par value of $0.0001 each in the issued and unissued share capital of the Company in one ordinary share with a par value of $0.002 (the “Stock Split”). The Company has established a close of business on March 29 2022 Eastern Time (the “Record Date”), as the record date for determining the shareholders entitled to receive notice of and vote at the Meeting and any adjournment or postponement thereof.

Subject to the approval of the Share Consolidation at the Meeting, the Share Consolidation will become effective on 5 p.m. to April 21, 2022, U.S. Eastern Time, and Class A common stock is expected to begin trading on a post-consolidation equity basis on the Nasdaq Capital Markets when markets open the next business day under the new CUSIP numbers. /ISIN. No fractional shares will be issued in connection with the reverse stock split. All fractional shares will be rounded up to the whole number of shares. Subject to shareholder approval at the Meeting, immediately after the Share Consolidation, the authorized share capital of the Company is $50,000.00 divided into 25,000,000 ordinary shares with a par value of $0.002 each, comprising (a) 20,000,000 Class A common shares with a par value of $0.002 each and (b) 5,000,000 Class B common shares with a par value of $0.002 each.

Copies of the Notice of Meeting and the form of proxy are available on the Company’s Investor Relations website at https://ir.ucommune.com.

About Ucommune International ltd.

Ucommune is China leading manager and provider of agile office spaces. Founded in 2015, Ucommune has created a large-scale smart and agile office ecosystem spanning economically dynamic regions across China to provide its members with flexible and cost-effective office space solutions. Ucommune’s various offline agile office space services include standalone models, such as U Space, U Studio, and U Design, as well as lightweight asset models, such as U Brand and U Partner. Using its expertise in the real estate and retail sectors, Ucommune operates its agile office spaces with high efficiency and engages in the urban transformation of old and underutilized buildings to redefine commercial real estate. in China.

Safe Harbor Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made pursuant to the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Such statements may be identified by words such as “will”, “expect”, “anticipate” , “future”, “intends”, “plans”, “believes”, “estimates”, “potential”, “continues”, “ongoing”, “targets”, “directions” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the United States Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written documents and in oral statements made by its officers, directors or employees to third parties. All statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statements, including, but not limited to, the following: the Company’s growth strategies; its future business development, results of operations and financial condition; its ability to understand member needs and provide products and services to attract and retain members; its ability to maintain and improve its brand recognition and reputation; its ability to maintain and improve quality control policies and measures; its ability to establish and maintain relationships with members and business partners; trends and competition in the agile office space market in China; variations in its revenues and certain cost or expense items; the expected growth of the Chinese agile office space market; PRC government policies and regulations relating to the Company’s business and industry, as well as general economic and business conditions in China and globally and assumptions underlying or relating to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statements except as required by applicable law.

For investor and media inquiries, please contact:

Ucommune International ltd.
[email protected]

ICR, LLC.
Robin Yang
[email protected]
+1 (212) 537-3847

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SOURCE Ucommune International Ltd.