Why Tarena International Inc. (TEDU) stock surged in the after-hours after the early loss on Tuesday?

Tarena International Inc. (TEDU) shares surged 14.84% in after-hours on Tuesday, August 17, 2021, and closed the daily trading at $1.28. However, in the regular trading session on Tuesday, TEDU’s stock lost 7.25%. TEDU shares have fallen 21.95% over the last 12 months, and they have moved down 31.91% in the past week. Over the past three months, the stock has lost 65.87%, while over the past six months, it has declined 59.49%.

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TEDU latest financial results announcement

On May 25, 2021, Tarena International, Inc. (TEDU) announced its unaudited financial results for the first quarter ended March 31, 2021.

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Q1 2021 financial highlights

  • TEDU reported net revenue of RMB533.8 million (US$81.5 million) for Q1 2021 compared to RMB295.0 million in the same period of 2020.
  • The gross profit was RMB249.9 million (US$38.1 million) in Q1 2021 compared to RMB27.6 million in Q1 2020.
  • Operating loss was RMB129.5 million (US$19.8 million) in Q1 2021 compared to a loss of RMB369.8 million in the same period of 2020.
  • It suffered a net loss of RMB121.9 million (US$18.6 million) in Q1 2021 compared to a net loss of RMB345.1 million in Q1 2020.
  • Basic and diluted loss per American Depositary Share was RMB2.17 (US$0.33) inQ1 2021, compared to a loss per ADS of RMB6.37 in the first quarter of 2020.
  • As of March 31, 2021, the company had cash, cash equivalents, and time deposits, including current and non-current, and restricted cash totalled RMB312.5 million (US$47.7 million) compared to RMB364.8 million as of December 31, 2020.

TEDU merger agreement

On April 30, 2021, Tarena International, Inc. (TEDU) entered into an Agreement and Plan of Merger with Kidedu Holdings Limited and Kidarena Merger Sub. According to the Merger Agreement, Merger Sub will merge with and into the Company, with the Company continuing as the surviving company and becoming a wholly-owned subsidiary of Parent in a transaction implying an equity value of the Company of approximately US$230.6 million.

The merger consideration will be funded through cash contribution by Ascendant Capital Partners III, L.P., or its affiliates.

About TEDU

Tarena is a leading provider of adult professional education and K-12 education services in China. Tarena offers adult professional education courses in IT and non-IT subjects. Tarena also offers K-12 education programs, including computer coding and robotics programming courses, etc., targeting students aged between three and eighteen.

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As of this writing, there is no recent news in the market which could be linked with its mixed performance on Tuesday. We are not sure how it will commence the next trading session on Wednesday.

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