GDS (GDS) prices 5.49M public offering at $45.50/ADS

GDS Holdings Limited (“GDS” or the “Company”) (Nasdaq: GDS) today announced the pricing of a public offering by it of 5,494,505 American Depositary Shares (“ADSs”), each representing eight of its Class A ordinary shares, at a public offering price of US$45.50 per ADS. The underwriters have been granted a 30-day option to purchase up to an additional 824,175 ADSs from GDS at the same price.

The offering is expected to close on December 10, 2019, subject to customary closing conditions.

GDS intends to use approximately US$190 million of the net proceeds from this offering to fund a portion of the cash consideration and assumed liabilities for the acquisition of three data centers at a campus located in Shunyi district, Beijing, which we refer to as Beijing 10, Beijing 11 and Beijing 12 (“the Acquisition”), and use the remaining net proceeds from this offering, or all of the net proceeds from this offering if the Acquisition is not consummated, to fund other land, building, and data center acquisitions and for general corporate purposes.

J.P. Morgan, RBC Capital Markets, BofA Securities and Haitong International are acting as joint book-running managers for the proposed offering.

You May Also Be Interested In

• Denarius Metals acquires 15% stake in Copper Giant, Trafigura invests
• OBOOK Holdings posts $18.8M net loss as OwlPay Harbor volume rises
• loanDepot receives NYSE non-compliance notice over stock price