LAIX Inc. Sets Record Date for Dissemination of Settlement Statement and Merger Plan for ‘Going Private’ Transaction

SHANGHAI, September 6, 2022 /PRNewswire/ — LAIX Inc. (“LAIX” or the “Company”) (OTC: LAIXY), an artificial intelligence (AI) company China which creates and provides products and services to popularize English language learning, today announced that it has set up September 6, 2022 as the date of record for the issuance of the Rule 13e-3 Transaction Statement on Schedule 13E-3 (as amended, the “Schedule 13E-3”) and the Executed Merger Plan (the “Merger Plan” ) in connection with a precedent announced the contemplated “private transfer” transaction pursuant to an agreement and plan to merge (the “Merger Agreement”) that the Company has entered into with Laix Infinite Co. Ltd., an exempt company incorporated with limited liability under the laws of Cayman Islands (“Parent”), and Prilingo Merger Limited, an exempt company incorporated with limited liability under the laws of the Cayman Islands and a wholly owned subsidiary of Parent, the June 17, 2022.

Registered holders of common shares of the Company at the close of business on September 6, 2022 (hong kong times) will each receive a copy of Schedule 13E-3 and a copy of the Merger Plan. Holders of US Depositary Shares of the Company (the “ADS”) at the close of business on September 6, 2022 (New York times) will each receive a copy of Schedule 13E-3. Schedule 13E-3 and the Merger Agreement are available on the Company’s website at as well as on the website of the United States Securities and Exchange Commission at The Merger Plan is essentially in the form attached as Schedule A to the Merger Agreement.

The merger is currently expected to close in October 2022 and is subject to the terms and conditions set forth in the merger agreement. If completed, the merger will make the Company a private company, its ADSs will no longer be listed on the over-the-counter market and the Company’s ADS program will be terminated.

About LAIX Inc.

LAIX Inc. (“LAIX” or the “Company”) is an artificial intelligence (AI) company in China which creates and provides products and services to popularize the learning of English. Its exclusive AI teacher uses cutting-edge deep learning and adaptive learning technologies, big data, well-established education pedagogies and mobile internet. LAIX believes that its innovative approach fundamentally transforms learning. LAIX provides its on-demand products and services through its mobile apps, primarily its flagship mobile app “English Liulishuo” launched in 2013. On the company’s platform, AI technologies are seamlessly integrated with various online content. integrating well-established language learning pedagogies, game-based features and strong social elements to deliver an engaging and adaptive learning experience. LAIX offers a variety of courses inspired by a wide range of subjects and cultural themes to make learning English more interesting and is committed to providing a fun and interactive learning environment to motivate and engage its users.

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Forward-looking statements

This announcement contains forward-looking statements. These statements are made pursuant to the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as “will”, “expect”, “anticipate” , “aims”, “future”, “intends”, “plans”, “believes”, “estimates”, “confident”, “potential”, “continues” or other similar expressions. LAIX may also make written or oral forward-looking statements in its periodic reports to the United States 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 third parties. Statements that are not historical facts, including but not limited to statements about LAIX’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a variety of factors could cause actual results to differ materially from those contained in any forward-looking statement, including, but not limited to, the following: objectives and LAIX strategies; the future business development, results of operations and financial condition of LAIX; the expected growth of the education market; LAIX’s ability to monetize the user base; fluctuations in general economic and business conditions in China; PRC government policies, laws and regulations relating to the Company’s industry; the potential impact of COVID-19 on LAIX’s business activities and the economy China and elsewhere in general; the occurrence of any event, change or other circumstance that may entitle any party to terminate the Definitive Merger Agreement relating to the Go-Private Transaction; the outcome of any legal proceedings that may be brought against LAIX Inc. or its shareholders or directors; the ability to satisfy the closing conditions of the merger and the privatization transaction; a delay in the closing of the merger and the privatization transaction; business disruptions due to the proposed merger that will adversely affect LAIX’s business, including current plans and operations; potential adverse reactions or changes in business relationships resulting from the announcement or completion of the merger and going-private transaction; certain restrictions during the term of the merger and going-private transactions that may impact LAIX’s ability to pursue certain business opportunities or strategic transactions; LAIX’s ability to retain and hire key personnel; uncertainty as to the long-term value of the common shares of LAIX following the merger and the privatization transaction; the continued availability of capital and financing following the merger and the privatization transaction; and assumptions underlying or relating to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the United States Securities and Exchange Commission. All information provided in this press release is as of the date of the press release, and the Company assumes no obligation to update such information except as required by applicable law.

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LAIX inc.
Investor Relations
E-mail: [email protected]