Business
GDS Announces Closing of Public Offering of ADSs and Full Exercise of Option to Purchase Additional 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 its previously announced underwritten registered public offering of 5,980,000 American Depositary Shares (“ADSs”), each representing eight Class A ordinary shares, par value US$0.00005 per share (the “Primary ADSs Offering”), at a public offering price o
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 its previously announced underwritten registered public offering of 5,980,000 American Depositary Shares (“ADSs”), each representing eight Class A ordinary shares, par value US$0.00005 per share (the “Primary ADSs Offering”), at a public offering price of US$24.50 per ADS (the “Primary ADSs Offering Price”), and reflecting the exercise in full by the underwriters of their option to purchase 780,000 additional ADSs.","length":664,"tagName":"p"},{"type":"text","content":"GDS received net proceeds from the Primary ADSs Offering of approximately $141.6 million, after deducting estimated underwriting discounts and commissions and estimated offering expenses. The Company received all of the net proceeds from the Primary ADSs Offering and plans to use such net proceeds for general corporate purposes, working capital needs and the refinancing of its existing indebtedness, including potential future negotiated repurchases, or redemption upon exercise of the investor put right, of its convertible bonds due 2029.","length":543,"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 be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), which amount reflects the exercise in full by the initial purchasers of their option to purchase an additional US$50 million in aggregate principal amount of the Notes (collectively, the “Notes Offering”).","length":580,"tagName":"p"},{"type":"text","content":"The Company also announced today by separate press release the closing of a separate registered public offering (the “Delta Placement of Borrowed ADSs”) of 6,000,000 ADSs (the “Borrowed ADSs”), at a public offering price of US$24.50 (which is the same public offering price as the Primary ADSs Offering Price), that the Company lent to an affiliate (the “ADS Borrower”) of an initial purchaser in the Notes Offering...