BEIJING, Feb. 28, 2019 /PRNewswire/ -- Gridsum Holding
Inc. ("Gridsum" or the "Company") (NASDAQ: GSUM), a leading provider of
cloud-based big-data analytics and artificial intelligence
("AI") solutions in China, today
announced that on February 28, 2019, it entered into a share
subscription agreement (the "Subscription Agreement") with certain
equity investment firms (the "Investors").
Pursuant to the Subscription Agreement, the Investors will make
an aggregate investment of approximately US$11.1 million by subscribing for 3,461,902
newly issued Class B ordinary shares of the Company, par value
US$0.001 per share, at a subscription
price of US$3.20 per share. Closing
of the investment is subject to the satisfaction of customary
closing conditions.
About Gridsum
Gridsum Holding Inc. (NASDAQ: GSUM) is a leading provider of
cloud-based big-data analytics and AI solutions for multinational
and domestic enterprises and government agencies in China. Gridsum's core technology, the Gridsum
Big Data Platform and the Gridsum Prophet: Enterprise AI Engine, is
built on a distributed computing framework and performs real-time
multi-dimensional correlation analysis of both structured and
unstructured data. This enables Gridsum's customers to identify
complex relationships within their data and gain new insights that
help them make better business decisions. The Company is named
"Gridsum" to symbolize the combination of distributed computing
(Grid) and analytics (sum). As a digital intelligence pioneer, the
Company's mission is to help enterprises and government
organizations in China use data in
new and powerful ways to make better informed decisions and be more
productive.
Safe Harbor Statement
This announcement contains forward-looking statements. These
forward-looking statements are made under the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These statements can be identified by terminology such as
"may," "will," "expects," "anticipates," "aims," "future,"
"intends," "plans," "believes," "estimates," "likely to" and
similar statements. Forward-looking statements involve inherent
risks and uncertainties. Many factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to unexpected difficulties in
pursuit of our goals and strategies; reduced demand for our
solutions; difficulties keeping and strengthening relationships
with customers; potentially costly research and development
activities; competition in the digital intelligence market; PRC
governmental policies relating to media, software, big data, the
internet, internet content providers and online advertising; and
general economic and business conditions. Further information
regarding these and other risks is included in Gridsum's reports
filed with, or furnished to, the Securities and Exchange
Commission. All information provided in this press release is as of
the date of this press release, and Gridsum undertakes no duty to
update such information except as required under applicable
law.
For more information, please visit http://www.gridsum.com/.
Investor Relations
Gridsum
ir@gridsum.com
Christensen
In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
Email: carnell@christensenir.com
In U.S.
Mr. Tip Fleming
Phone: +1 917 412 3333
Email: tfleming@christensenir.com
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SOURCE Gridsum Holding Inc.