Secoo Special Committee Retains Financial Advisor and Legal Counsel
February 09 2021 - 5:30AM
Secoo Holding Limited (“Secoo” or the “Company”) (NASDAQ: SECO),
Asia’s leading online integrated upscale products and services
platform, today announced that the special committee consisting of
independent directors (the “Special Committee”) of the Company’s
board of directors (the “Board”), formed to review and consider,
among other things, the previously announced preliminary
non-binding “going private” proposal (the “Proposal”) received by
the Board on January 10, 2021, has retained Duff & Phelps, LLC
as its financial advisor and Hogan Lovells as its legal counsel to
assist it in its review and evaluation of the Proposal.
The Board cautions the Company’s shareholders
and others considering trading the Company’s securities that no
decisions have been made by the Special Committee with respect to
the Company’s response to the Proposal. There can be no assurance
that any definitive offer will be made, that any agreement will be
executed or that this or any other transaction will be approved or
consummated. The Company does not undertake any obligation to
provide any updates with respect to this or any other transaction,
except as required under applicable law.
About Secoo Holding Limited
Secoo Holding Limited (“Secoo”) is Asia’s
leading online integrated upscale products and services platform.
Secoo provides customers with a wide selection of authentic upscale
products and lifestyle services on the Company’s integrated online
and offline shopping platform which consists of the Secoo.com
website, mobile applications and offline experience centers,
offering over 400,000 SKUs, covering over 3,800 global and domestic
brands. Supported by the Company’s proprietary database of upscale
products, authentication procedures and brand cooperation, Secoo is
able to ensure the authenticity and quality of every product
offered on its platform.
For more information, please
visit http://ir.secoo.com.
Safe Harbor Statement
This press release contains forward-looking
statements within the meaning of the safe harbor provisions of the
U.S. Private Securities Litigation Reform Act of 1995. All
statements other than statements of historical fact in this
announcement are forward-looking statements, including but not
limited to, the approval and the consummation of the potential
transaction contemplated by the proposal letter or any alternative
transaction. These forward-looking statements include but are not
limited to Secoo management quotes and the Company’s financial
outlook. These forward-looking statements can be identified by
terminology such as “will,” “estimate,” “project,” “predict,”
“believe,” “expect,” “anticipate,” “intend,” “potential,” “plan,”
“goal” and similar statements. Forward-looking statements involve
inherent risks and uncertainties and are based on current
expectations, assumptions, estimates and projections about the
Company and the industry. A number of important factors could cause
actual results to differ materially from those contained in any
forward-looking statement. Potential risks and uncertainties
include, but are not limited to, the Company’s future business
development, financial condition and results of operations, the
demand for and market acceptance of the Company’s products and
services, the Company’s ability to attract and retain new customers
and to increase revenues generated from repeat customers, changes
in the Company’s revenues and certain cost or expense items; the
expected growth of the Chinese e-commerce market, Chinese
governmental policies relating to the Company’s industry and
general economic conditions in China, and other risks detailed in
the Company’s filings with the U.S Securities and Exchange
Commission and available on its website at http://www.sec.gov.
All information provided in this press release
is as of the date of this press release, and Secoo Holding Limited
undertakes no obligation to update forward-looking statements to
reflect subsequent occurring events or circumstances, or to changes
in its expectations, except as may be required by law. Although the
Company believes that the expectations expressed in these
forward-looking statements are reasonable, it cannot assure you
that its expectations will turn out to be correct, and investors
are cautioned that actual results may differ materially from the
anticipated results.
For investor and media inquiries, please
contact:
In China:Secoo Holding LimitedJingbo MaTel: +86
10 6588-0135E-mail: ir@secoo.com
The Piacente Group, Inc.Jenny CaiTel: +86 (10)
6508-0677E-mail: Secoo@tpg-ir.com
In the United States:The Piacente Group,
Inc.Brandi PiacenteTel:
+1-212-481-2050E-mail: Secoo@tpg-ir.com
SOURCE Secoo Holding Limited
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