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GDS Announces Closing of Offering of American Depositary Shares in connection with the Delta Placement of Borrowed ADSs
SHANGHAI, China, May 30, 2025 (GLOBE NEWSWIRE) -- GDS Holdings Limited (“GDS Holdings”, “GDS” or the “Company”) (NASDAQ: GDS; HKEX: 9698), a leading developer and operator of high-performance data centers in China, today announced the closing of a previously announced registered public offering of 6,000,000 American Depositary Shares (“ADSs”), each representing eight Class A ordinary shares, par value US$0.00005 per share (the “Delta Placement of Borrowed ADSs”), at a public offering price of US
About this update from Gds Holdings Ltd.
[{"type":"text","content":"SHANGHAI, China, May 30, 2025 (GLOBE NEWSWIRE) -- GDS Holdings Limited (“GDS Holdings”, “GDS” or the “Company”) (NASDAQ: GDS; HKEX: 9698), a leading developer and operator of high-performance data centers in China, today announced the closing of a previously announced registered public offering of 6,000,000 American Depositary Shares (“ADSs”), each representing eight Class A ordinary shares, par value US$0.00005 per share (the “Delta Placement of Borrowed ADSs”), at a public offering price of US$24.50 per ADS (the “Delta Public Offering Price”), which the Company lent (such loaned ADSs, the “Borrowed ADSs”) to an affiliate of the underwriter in the ADS offering (such affiliate, the “ADS Borrower”) pursuant to an ADS lending agreement with the ADS Borrower (the “ADS Lending Agreement”).","length":796,"tagName":"p"},{"type":"text","content":"The ADS Borrower or its affiliate received all of the proceeds from the sale of the Borrowed ADSs. The Company did not receive any proceeds from the Delta Placement of Borrowed ADSs but received from the ADS Borrower a nominal lending fee, which was applied to fully pay up the Class A ordinary shares underlying the Borrowed ADSs. The Company believes that the Borrowed ADSs will not be considered outstanding for the purpose of computing and reporting its earnings per ADS under the current U.S. Generally Accepted Accounting Principles and, therefore, the Company believes that no dilution will occur as a result of the Borrowed ADSs.","length":637,"tagName":"p"},{"type":"text","content":"The Borrowed ADSs were sold concurrently with the pricing of the Notes Offering (as defined below) and the Primary ADSs Offering (as defined below). The Company was informed by the ADS Borrower that it or its affiliates intends to use the short position resulting from the Delta Placement of the Borrowed ADSs to facilitate privately negotiated derivatives transactions related to the Notes. The activity described above could affect the market price of the Company’s ADSs or the Notes otherwise prevailing at that time.","length":520,"tagName":"p"},{"type":"text","content":"The Company also announced today by separate press release the closing of an offering of 2.25% convertible senior notes in an aggregate principal amount of US$550 million due 2032 (the “Notes”) in a private offering to persons reasonably believed to...