On November 2, 2020, Telenav, Inc. entered into an agreement and plan of merger with V99, Inc. The Company stated that the merger agreement provides that, at the effective time, each share of common stock, par value $0.001 per share, of the Company issued and outstanding prior to the effective time (other than cancelled shares and dissenting shares) will be cancelled and extinguished, and converted into the right to receive cash in an amount equal to $4.80, without interest thereon.