DeHeng Advised YiMiDiDa on Series D+ Financing
of Nearly RMB1 Billion and Strategic Acquisition of UC Express
2020-02-19
On February 18, 2020, YiMiDiDa Group (hereinafter referred to as "YiMiDiDa") announced the completion of Series D+ financing of nearly RMB 1 billion. The smooth closing was another proof of the good development momentum of YiMiDiDa, and also of the recognition and encouragement of the top investment institutions, market and clients for YiMiDiDa, which will further accelerate the internal consolidation of YiMiDiDa and UC Express, and enhance the synergistic effects.
YiMiDiDa is an integrated logistics enterprise with a collection of whole logistics chain. Its principal business is the national highway less-than-truck-load logistics network services, including express delivery, express transport and supply chain and other services. It was once voted among China's Top 50 Unicorns-to-Be in 2018, and awarded such honors as 2019 Industry-Leading Brand and 2018 Logistics Innovation and Development Star. In recent years, while realizing the development and growth of the enterprise itself, it has continued to fulfill its social responsibility and actively given back to society by leveraging its advantages in resources as the backbone force of the logistics industry. Shortly after the outbreak of COVID-19, it set up an aid project team, opened green express channels across the country for free delivering aid supplies to Wuhan, mobilized resources to assist the construction of Huoshenshan Hospital, and carried out many other aid activities.
As a long-term partner, DeHeng has witnessed the continuous development of YiMiDiDa and DeHeng's Shanghai office has provided legal services for its financing since the A round, consolidation of local logistics companies and many other capital operations.
Unlike previous financing deals, the Series D+ financing was conducted at the same time with the strategic acquisition of UC Express. Therefore, while coordinating the rhythm and clarifying the logic of the two deals, it is also necessary to balance and give consideration to the demands of YiMiDiDa and many institutional investors. DeHeng, as YiMiDiDa’s legal counsel, formed the DeHeng team, led by Partner Li Zengli, Business Partner Lu Yaosong and lawyer Mai Shuzhen, with primary support from lawyers and paralegals including Zeng Yong, Lin Chengqun, Guo Xiaoting, Kang Jiaping and Man Lingge, and provided professional, comprehensive and high-quality legal services for YiMiDiDa in this project of Series D+ financing and strategic acquisition of UC Express.
