Ruhnn Holding Limited’s (NASDAQ: RUHN) boards of directors have got the preliminary non-binding offer letter from three founders of the firm. Founder Chao Shen, Min Feng, Lei Sun along with their corresponding associates, the Buyer Group sent a proposal to purchase the Class A Common shares, Class B Common shares, and the Class A common shares represented by ADS for US$0.68 per shares.

Ruhnn Holding’s board of directors has made a committee to review the offer. It is not confirmed yet whether the firm will agree to the offer or not. The board has informed all the stockholders about the offer. RUHN assumes no responsibility to give any updates regarding this or any other transaction.