Cloopen Group Shareholders Approve Merger with SpringX Holdings to Go Private

Key Facts

In a move reflecting the ongoing trend of tech firms seeking privatization away from public market volatility, Cloopen Group Holding Limited shareholders have officially approved the merger proposal with SpringX Holdings Limited. The agreement was ratified during an extraordinary general meeting, where the company will merge with entities including AutumnX and SummerX Holdings to become a wholly-owned subsidiary of HoldCo under Cayman Islands law. This strategic transition aims to take Cloopen private, eventually resulting in the termination of its American Depositary Shares (ADS) program.

This approval serves as a critical milestone in executing the previously announced merger plan, providing clearer visibility for the company's future in the cloud communications sector. According to market data, the RAASY stock closed at $2.52 on September 23, 2026, with a daily high of $2.56 and a low of $2.52. This relative price stability reflected investor anticipation regarding the shareholder vote that has now solidified the path toward deal completion.

Operationally, Cloopen will continue working with merger parties to finalize remaining procedures according to the agreement. Based on available data, RAASY stood at $2.52 (close September 23, 2026), the level immediately preceding the official announcement of shareholder approval. Traders should monitor updates regarding the final delisting date from the OTC Pink Market, as the current economic calendar shows no direct local catalysts for the company in the coming seven days.