Cloopen Files Form 15-12G to End SEC Registration and Reporting

What happened

Cloopen Group Holding Limited, a Beijing-based software company, filed a Form 15-12G with the U.S. Securities and Exchange Commission on October 29, 2026. The form terminates registration of its Class A ordinary shares, par value US$0.0001 per share, and its American Depositary Shares, each representing six Class A ordinary shares. It also suspends the company's duty to file reports under Sections 13 and 15(d) of the Securities Exchange Act of 1934.

The filing lists the company's address as 16/F, Tower A, Fairmont Tower, 33 Guanshun North Main Street, Chaoyang District, Beijing. It is signed by Chief Financial Officer Yipeng Li. The form states the approximate number of holders of record as of the certification date was one.

The filing

A Form 15 is how a company notifies the SEC that it is ending its registration of a class of securities or suspending its reporting obligations. The version filed here, Form 15-12G, covers termination under Section 12(g), which applies to companies whose securities are registered with the SEC because they are held by a large number of investors.

The cover page includes checkboxes for several rule provisions that can justify termination or suspension, including Rules 12g-4, 12h-3 and 15d-6. The text provided does not show which box the company marked, so the specific rule relied on is not clear from the filing as reproduced.

The filer's ticker symbol is RAASY. The filing did not explain the reason for the deregistration, and the provided text does not state one.

What this means

An American Depositary Share, or ADS, is a U.S.-traded security that represents a set number of a foreign company's ordinary shares held by a depositary bank. Here, each ADS represents six Class A ordinary shares of Cloopen, so the two instruments rise and fall together, and a Form 15 covering both ends SEC registration for both.

Deregistration is different from a stock being delisted from an exchange, although the two events often happen around the same time for small foreign issuers. A Form 15 addresses the SEC registration and reporting obligations. Once it takes effect, the company no longer files the periodic reports — annual reports and quarterly or interim disclosures — that registered companies must submit.

The entry of one holder of record is notable. That count reflects holders registered directly on the company's books, not the number of ADS holders, who typically appear as beneficial owners through a depositary or broker. A figure of one is consistent with most or all securities being held through intermediaries, but the filing itself does not explain the number.

On the same day, price data show RAASY closed at $2.86, up 13.04% from $2.53 the prior session, on volume of 33,231 against an average of 6,094. The provided sources do not state why the shares moved.

Key facts