Bing Zhang to acquire the remaining stake in Glory Star New Media Group.

Bing Zhang, Glory Star Founder and CEO, offered to acquire the remaining stake in Glory Star New Media Group, a provider of advertisement and content production services. Bing Zhang to acquire stake for $1.27 per ordinary share in a going private transaction representing a 44.3% premium. According to the proposal letter, Mr. Bing Zhang will form an acquisition vehicle for the purpose of implementing the proposed transaction, which may admit other existing shareholders of the company and equity investors as consortium members and the acquisition is intended to be financed by a combination of debt and/or equity capital.