Smart Share Global LTD Schedule 13D activist filings

Smart Share Global Limited's Schedule 13D filing indicates an exit by reporting persons HHLR Advisors, Ltd. and Hillhouse Investment Management, Ltd. following the completion of a merger and settlement.

Smart Share Global Limited announced the effectiveness of its merger, leading to its delisting from the Nasdaq Capital Market and the termination of its ADS program.

Major shareholders HHLR Advisors and Hillhouse Investment Management publicly challenge Smart Share Global's proposed going-private transaction, citing undervaluation and a flawed negotiation process.

Mobile Charging Investment Limited has secured a RMB1.575 billion term loan facility from China Merchants Bank Haikou Branch to fund its acquisition of Smart Share Global Limited.

Hillhouse Investment Management submits a competing proposal to acquire Smart Share Global Limited for $1.77 per ADS, challenging a lower management-led take-private offer.

Smart Share Global Limited has entered into a definitive merger agreement to be acquired and taken private by a consortium including its management, for approximately $267 million.

A consortium comprising Smart Share Global Limited's management and Trustar Capital has submitted a preliminary non-binding proposal to acquire all outstanding shares of the company for $0.625 per ordinary share or $1.25 per ADS, representing a substantial premium.