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Fuling Global Announces Receipt Of Preliminary Non-Binding Proposal To Acquire Company At $2.18/Share

WENLING, China, June 22, 2020 /PRNewswire/ -- Fuling Global Inc. (NASDAQ:FORK) ("Fuling Global" or the "Company"), a manufacturer and distributor of mainly environmentally-friendly

Benzinga · -

WENLING, China, June 22, 2020 /PRNewswire/ -- Fuling Global Inc. (NASDAQ:FORK) ("Fuling Global" or the "Company"), a manufacturer and distributor of mainly environmentally-friendly plastic and paper foodservice disposable products, today announced that its board of directors (the "Board") has received a preliminary non-binding proposal letter (the "Proposal Letter"), dated June 20, 2020, from Ms. Guilan Jiang, founder and chairwoman of the Board of the Company on behalf of herself and her extended family members who are shareholders of the Company (the "Founder Family"), and Mr. Qijun Huang, an individual financial investor (together with Ms. Jiang and the Founder Family, the "Buyer Group"), to acquire all of the outstanding ordinary shares of the Company that are not already held by the Buyer Group for a purchase price of $2.18 per share, in cash (the "Proposed Transaction"). The Proposed Transaction, if completed, would result in the Company becoming a privately-held company owned by the Buyer Group, and the Company's ordinary shares would be delisted from the NASDAQ Capital Market. A copy of the Proposal Letter is attached hereto as Exhibit A.