SOLAI Going-Private Proposal
- SOLAI announced receipt of a revised, preliminary non-binding going-private proposal. - The proposal is non-binding and could trigger near-term corporate restructure or pause procurement decisions. - Sales teams targeting SOLAI should check deal-team availability and prepare short-term expedited offers. (prnewswire.com)
SOLAI said Thursday it received a revised proposal to go private from Chaince Digital Holdings, and the board has not decided how to respond. (prnewswire.com) The April 23 proposal would buy all outstanding Class A and Class B ordinary shares, including American depositary shares, for $0.03162 per ordinary share, or $3.162 per American depositary share, in cash. Each American depositary share represents 100 Class A ordinary shares. (prnewswire.com) Chaince Digital had offered $3.069 per American depositary share in the first proposal disclosed on March 12. The revised letter ties the final price to 170% of net asset value per ordinary share measured at the most recent quarter-end before closing, with a cap of $3.20 per American depositary share. (solai.com; stocktitan.net) A going-private deal would remove SOLAI from the public market if it is signed and completed. The company said the letter is preliminary and non-binding, and it warned investors that there is no assurance any definitive agreement will be executed or any transaction will close. (prnewswire.com) The timing follows a stretch of corporate change at SOLAI. The company said on April 20 that it had filed its 2025 annual report, and in March it said the New York Stock Exchange had notified it that its average closing price had stayed below $1.00 over 30 consecutive trading days as of January 28. (prnewswire.com; prnewswire.com) SOLAI is the company formerly known as BIT Mining, and it now describes itself as a technology-driven personal artificial intelligence and digital infrastructure provider. Its shares trade on the New York Stock Exchange under the ticker SLAI after previously trading under BTCM. (nasdaq.com; prnewswire.com) SOLAI’s 2025 annual report was filed with the Securities and Exchange Commission on April 20, three days before the revised proposal was disclosed. The filing says the company’s principal executive offices are in Akron, Ohio. (sec.gov; prnewswire.com) For now, the next formal step would be a board response, not a shareholder vote. SOLAI said it may not provide further updates on the proposal unless required by law. (prnewswire.com)
