GLOBENEWSWIRE – BlueCity, a leading online LGBTQ platform, has entered into a merger agreement with Multelements Limited ("Parent"), Diversefuture Limited, a wholly-owned subsidiary of Parent, pursuant to which the company will be acquired in an all-cash transaction, implying an equity value of the company of ~$60M for all of the company's outstanding ordinary shares. The merger is expected to close in the second half of 2022.
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