BEIJING, June 22,
2023 /PRNewswire/ -- Baijiayun Group Ltd ("Baijiayun"
or the "Company") (Nasdaq: RTC), a one-stop video-centric
technology solution provider, today announced that Mr.
Gangjiang Li, Chairman of the Board and CEO, who is the beneficial
owner of approximately 32.73% of the issued and outstanding shares
of the Company, and Mr. Yi Ma,
President and Director, who is the beneficial owner of
approximately 10.08% of the issued and outstanding shares of the
Company, have committed not to selling or transferring any ordinary
shares or similar securities (the "Restricted Securities") for a
12-month lock-up period, as a demonstration of confidence in the
long-term value of the Company.
Mr. Gangjiang Li and Mr. Yi Ma
undertake to promptly enter into written lock-up agreements with
the Company to carry out such commitment. The agreements will be
subject to certain customary exceptions, including that shares may
be transferred directly to certain parties or may be repurchased by
the Company.
About Baijiayun Group Ltd
Baijiayun is a one-stop video-centric technology solution
provider with core expertise in SaaS/PaaS solutions. Baijiayun is
committed to delivering reliable, high-quality video experiences
across devices and localities and has grown rapidly since its
inception in 2017. Premised on its industry-leading video-centric
technologies, Baijiayun offers a wealth of video-centric technology
solutions, including Video SaaS/PaaS, Video Cloud and Software, and
Video AI and System Solutions. Baijiayun caters to the evolving
communications and collaboration needs of enterprises of all sizes
and industries.
Safe Harbor Statement
This press release contains certain "forward-looking
statements." These statements are made under the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Statements that are not historical facts, including
statements about the parties' perspectives and expectations, are
forward-looking statements. The words "will," "expect," "believe,"
"estimate," "intend," and "plan" and similar expressions indicate
forward-looking statements.
Such forward-looking statements are inherently uncertain, and
shareholders and other potential investors must recognize that
actual results may differ materially from the expectations as a
result of a variety of factors. Such forward-looking statements are
based upon management's current expectations and include known and
unknown risks, uncertainties, and other factors, many of which are
hard to predict or control, that may cause the actual results,
performance, or plans to differ materially from any future results,
performance or plans expressed or implied by such forward-looking
statements. The forward-looking information provided herein
represents the Company's estimates as of the date of this press
release, and subsequent events and developments may cause the
Company's estimates to change.
The Company specifically disclaims any obligation to update the
forward-looking information in the future. Therefore, this
forward-looking information should not be relied upon as
representing the Company's estimates of its future financial
performance as of any date subsequent to the date of this press
release.
A further list and description of risks and uncertainties can be
found in the documents the Company has filed or furnished or may
file or furnish with the U.S. Securities and Exchange Commission,
which you are encouraged to read. Should one or more of these risks
or uncertainties materialize, or should underlying assumptions
prove incorrect, actual results may vary materially from those
indicated or anticipated by such forward-looking statements.
Accordingly, you are cautioned not to place undue reliance on these
forward-looking statements. Forward-looking statements relate only
to the date they were made, and the Company undertakes no
obligation to update forward-looking statements to reflect events
or circumstances after the date they were made except as required
by law or applicable regulation.
Investor / Media Contact:
Crocker Coulson
CEO, AUM Media, Inc.
(646) 652 7185
crocker.coulson@aummedia.org
Company Contact:
Yong
Fang
CFO, Baijiayun Group Ltd
(267) 939 5080
fangyong@baijiayun.com
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SOURCE Baijiayun Group Ltd