Cloopen Enters into Definitive Merger Agreement for Going-Private Transaction

BEIJING, May 12, 2026 /PRNewswire/ -- Cloopen Group Holding Limited (OTC: RAASY) ("Cloopen" or the "Company") today announced that it has entered into a definitive Agreement and Plan of Merger (the "Merger Agreement") with SpringX Holdings Limited, an exempted company incorporated with limited liability under the laws of the Cayman Islands ("Parent"), AutumnX Holdings Limited ("HoldCo"), an exempted company incorporated with limited liability under the laws of the Cayman Islands and a wholly-owned subsidiary of Hold C o, p ursuant to which the Company will be owned b y a consortium consisting of Mr. Changxun Sun, the Company's founder and chief executive officer, Cloopen Co., Ltd.