BEIJING, Sept. 30, 2021 /PRNewswire/ -- Tarena
International, Inc. (Nasdaq: TEDU) ("Tarena" or the "Company"), a
leading provider of adult professional education and childhood
& adolescent quality education services in China, today announced that it has delivered a
written notice to Kidedu Holdings Limited ("Parent"), Kidarena
Merger Sub, a wholly owned subsidiary of Parent ("Merger Sub") and
Ascendent Capital Partners ("ACP"), of the Company's intention to
terminate the Agreement and Plan of Merger dated April 30, 2021 (the "Merger Agreement") with
Parent and Merger Sub due to the breach of the Merger Agreement by
Parent and Merger Sub.
If Parent and Merger Sub fail to cure their breaches by
October 30, 2021 by confirming that
Parent and ACP will, respectively, take all actions and do all
things necessary, proper or advisable to close the transactions
contemplated by the Merger Agreement by December 31, 2021, the Company intends to
terminate the Merger Agreement and will be entitled to the parent
termination fee pursuant to the Merger Agreement and other
transaction documents.
While the Merger Agreement continues in effect, the Board of
Directors of the Company cautions the Company's shareholders and
the public that there can be no assurance that the transactions
contemplated by the Merger Agreement will be consummated, as
substantial uncertainty exists as to whether Parent and Merger Sub
will timely cure their breaches. The Company will provide further
updates as required by applicable law.
About Tarena International, Inc.
Tarena is a leading provider of adult professional education
and childhood and adolescent quality education services in
China. Through its innovative
education platform combining live distance instruction,
classroom-based tutoring and online learning modules, Tarena offers
adult professional education courses in IT and non-IT subjects. Its
adult professional education courses provide students with
practical skills to prepare them for jobs in industries with
significant growth potential and strong hiring demand. Tarena also
offers childhood and adolescent quality education programs,
including computer coding and robotics programming courses, etc.,
targeting students aged between three and eighteen.
Safe Harbor Statement
This press release contains forward-looking statements made
under the "safe harbor" provisions of Section 21E of the Securities
Exchange Act of 1934, as amended, and the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as "will," "expects,"
"anticipates," "future," "intends," "plans," "believes,"
"estimates," "confident" and similar statements. Tarena may also
make written or oral forward-looking statements in its reports
filed with or furnished to the U.S. Securities and Exchange
Commission, in its annual report to shareholders, in press releases
and other written materials and in oral statements made by its
officers, directors or employees to fourth parties. Any statements
that are not historical facts, including any business outlook and
statements about Tarena's beliefs and expectations, are
forward-looking statements. Many factors, risks and uncertainties
could cause actual results to differ materially from those in the
forward-looking statements. Such factors and risks include, but not
limited to the following: Tarena's goals and strategies; its future
business development, financial condition and results of
operations; its ability to continue to attract students to enroll
in its courses; its ability to continue to recruit, train and
retain qualified instructors and teaching assistants; its ability
to continually tailor its curriculum to market demand and enhance
its courses to adequately and promptly respond to developments in
the professional job market; its ability to maintain or enhance its
brand recognition, its ability to maintain high job placement rate
for its students, and its ability to maintain cooperative
relationships with financing service providers for student loans.
Further information regarding these and other risks, uncertainties
or factors is included in Tarena's filings with the U.S. Securities
and Exchange Commission. All information provided in this press
release is current as of the date of the press release, and Tarena
does not undertake any obligation to update such information,
except as required under applicable law.
For further information, please contact:
Investor Relations Contact
Tarena International, Inc.
Email: ir@tedu.cn
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SOURCE Tarena International, Inc.