On September 29, 2020, New Wave MMXV Limited announced that it has entered into the merger agreement with SINA Corporation. Pursuant to the Merger Agreement, Merger Sub will be merged with and into the Company, with the Company continuing as the surviving corporation and a wholly owned subsidiary of Parent. At the effective time of the Merger, each Ordinary Share issued and outstanding immediately prior to the effective time will be cancelled and cease to exist in exchange for the right to receive US$43.30 in cash per Ordinary Share without interest, other than (i) shares held by New Wave and any of their respective affiliates, which will be rolled over in the transaction, (ii) shares held by the Company or any subsidiary of the Company or held in the Company’s treasury, which will be cancelled and cease to exist without payment of any consideration, and (iii) shares held by shareholders who have validly exercised and not effectively withdrawn or lost their rights to dissent from the Merger pursuant to Section 238 of the Companies Law of the Cayman Islands, which will be cancelled and cease to exist in exchange for the right to receive the payment of fair value of those dissenting shares in accordance with Section 238 of the Companies Law of the Cayman Islands.