Cheer Holding shares rise 13.42% premarket as two buyout proposals spark special committee evaluation.

Cheer Holding surged 13.42% in premarket trading following the announcement of two competing $0.56 and $0.52 per-share buyout proposals, which triggered the formation of a Special Committee to evaluate the offers. The proposals, from Zhongsheng Dingxin and Excel Ally Ventures, represent significant premiums over the stock’s recent price of $0.0587 and sparked a 23% intraday rally in prior sessions. The Special Committee’s independent review process has intensified speculation about a potential take-private transaction, while a concurrent $15 million registered direct offering at $0.08 per share highlights capital-raising efforts. Despite the stock remaining far below its 52-week high of $3.45, the buyout drama and procedural rigor of the committee’s evaluation have driven short-term optimism, aligning with the premarket’s upward momentum.