Director Zhao Jutao filed a Form 4 with the SEC on October 29, 2026, reporting the cancellation of 2,372 American depositary shares of Cloopen Group Holding Ltd (RAASY) on October 28, 2026, in connection with the completion of a going-private merger.

Key Highlights

  • Reporting person: Zhao Jutao, identified as a Director of Cloopen Group Holding Ltd.
  • Transaction: 2,372 American depositary shares disposed of (transaction code D) on October 28, 2026.
  • Merger consideration: Each ADS was cancelled in exchange for the right to receive US$2.9641 in cash per ADS, without interest, according to the filing.
  • Post-transaction ownership: Zhao Jutao holds 0 American depositary shares following the reported transaction.
  • Merger Agreement: The filing references an Agreement and Plan of Merger dated May 12, 2026, among the Issuer, SpringX Holdings Limited, AutumnX Holdings Limited, and SummerX Holdings Limited.
  • Outcome: According to the filing, upon completion of the Merger, the Issuer became a privately-held company as a wholly-owned subsidiary of AutumnX Holdings Limited.

Cloopen Director Reports ADS Cancellation Following Completed Going-Private Transaction

Zhao Jutao, a director of Cloopen Group Holding Ltd (RAASY), filed a Form 4 disclosing the disposal of 2,372 American depositary shares on October 28, 2026. The filing indicates that each ADS represents six class A ordinary shares of the Issuer. Following the transaction, the reporting person's directly held ADS position is recorded as zero.

According to the filing, the disposal occurred under the Agreement and Plan of Merger dated May 12, 2026. The parties to that agreement were the Issuer, SpringX Holdings Limited (Parent), AutumnX Holdings Limited (Holdco, a wholly-owned subsidiary of Parent), and SummerX Holdings Limited (Merger Sub, a wholly-owned subsidiary of Holdco). The filing states that Merger Sub was merged with and into the Issuer, with the Issuer surviving as a wholly-owned subsidiary of Holdco.

The filing further states that at the effective time of the Merger, each ADS "was cancelled and ceased to exist in exchange for the right to receive US$2.9641 in cash per ADS without interest, subject to the terms and conditions of the Merger Agreement." The Form 4 also notes that the box indicating the reporting person is "no longer subject to Section 16" was checked, consistent with the Issuer's transition to a privately-held company.

What Was Disclosed

Director Zhao Jutao reported the cancellation of 2,372 Cloopen Group Holding Ltd ADSs on October 28, 2026, at US$2.9641 per ADS, pursuant to a May 12, 2026 merger agreement that resulted in the company becoming privately held.