BEIJING, Dec. 26,
2023 /PRNewswire/ -- Tarena International, Inc.
(NASDAQ: TEDU) ("Tarena" or the "Company"), a leading provider of
IT professional education and IT-focused supplementary STEAM
education services in China, today
announced that it has signed an equity transfer agreement (the
"Equity Transfer Agreement") to dispose of all equity interests in
the professional education business to a buyer consortium led by
Tarena Weishang Technology (Hainan) Co., Ltd (the "Disposal Transaction").
Ms. Lijuan
Han, affiliate of the Company's founder and chairman Mr.
Shaoyun Han, is a member of the
buyer consortium and has an interest in the Disposal
Transaction. Kroll, LLC was retained as the independent
financial advisor in connection with the Disposal
Transaction. The Disposal Transaction is expected to close
around the end of March 2024.
About Tarena International, Inc.
Tarena is a leading provider of IT professional education and
IT-focused supplementary STEAM education services in China. Through its innovative education
platform combining live distance instruction, classroom-based
tutoring and online learning modules, Tarena offers professional
education courses in IT and non-IT subjects. Its 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 IT-focused supplementary
STEAM education programs, including computer coding and robotics
programming courses, etc., targeting students between three and
eighteen years of age. Aiming to encourage "code to learn," Tarena
embraces the latest trends in STEAM education and technology to
develop children's logical thinking and learning abilities while
allowing them to discover their interests and potential.
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 third 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.