{"url_path":"/sec/raasy/10-k/2026/item-14","section_key":"item-14","section_title":"Item 14 MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS**","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-05-08","source_url":"https://www.sec.gov/Archives/edgar/data/1804583/0001493152-26-021875-index.html","accession_number":"0001493152-26-021875","cik":"0001804583","ticker":"RAASY","issuer_name":"Cloopen Group Holding Ltd","edgar_url":"https://www.sec.gov/Archives/edgar/data/1804583/0001493152-26-021875-index.html","primary_entity_key":"0001804583","primary_entity_name":"Cloopen Group Holding Ltd"},"word_count":382,"has_tables":true,"body_markdown":"**ITEM\n14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS**\n\n \n\n**Material\nModifications to the Rights of Security Holders**\n\n \n\nSee\n“Item 10. Additional Information” for a description of the rights of shareholders, which remain unchanged.\n\n \n\n**Use\nof Proceeds**\n\n \n\nThe\nfollowing “Use of Proceeds” information relates to the registration statement on Form F-1 (File No. 333-252205), as amended,\nin relation to our initial public offering of 23,000,000 ADSs (reflecting the exercise of the over-allotment option by the underwriters\nto purchase an additional 3,000,000 ADSs) representing 46,000,000 Class A ordinary shares, at an initial offering price of US$16.00 per\nADS (or 7,666,666 ADSs at an initial offering price of US$48.00 per ADS if retroactively adjusted to reflect the ADS ratio change effected\non March 15, 2023). The registration statement was declared effective by the SEC on February 8, 2021. Our initial public offering closed\non February 11, 2021. Goldman Sachs (Asia) L.L.C., Citigroup Global Markets Inc. and China International Capital Corporation Hong Kong\nSecurities Limited were the representatives of the underwriters for our initial public offering.\n\n \n\nWe\nreceived net proceeds of approximately US$340.2 million from our initial public offering, including the exercise of over-allotment option.\nOur expenses incurred and paid to others in connection with the issuance and distribution of the ADSs in our offering totaled US$27.8\nmillion, which included US$25.8 million for underwriting discounts and commissions and US$2.0 million for other expenses. None of the\ntransaction expenses included payments to directors or officers of our company or their associates, persons owning more than 10% or more\nof our equity securities or our affiliates. None of the net proceeds we received from the initial public offering were paid, directly\nor indirectly, to any of our directors or officers or their associates, persons owning 10% or more of our equity securities or our affiliates.\n\n \n\nAs\nof the date of this annual report, we used approximately US$ 223.2 million of the net proceeds received from our initial public offering\nto fund our strategic investments and acquisitions, enhancement and upgrade of our existing solutions and introduction of new ones, investment\nin technologies and working capital and general corporate purposes. We intend to use the remainder of the net proceeds from our initial\npublic offering as disclosed in our registration statements on Form F-1.\n\n \n\n137"}