BEIJING, July 8, 2024 /PRNewswire/ — VNET Workforce, Inc. (Nasdaq: VNET) (“VNET” or the “Company”), a important carrier- and cloud-neutral web knowledge middle products and services supplier in China, lately introduced the refinancing of the margin mortgage facility equipped via Daring Best friend (Cayman) Restricted (the “Bold Ally Loan”) to Mr. Josh Sheng Chen (“Mr. Chen”), Founder, Co-Chairperson and meantime Prominent Government Officer of VNET. The Daring Best friend Mortgage used to be procured via Mr. Chen in or round August 2021 to finance his acquire of 17,140,898 Magnificence A regular stocks from every other important shareholder on the date, and used to be fasten via the regular stocks beneficially owned via Mr. Chen within the Corporate.
On the subject of the Modification Incorrect. 8 to the Time table 13D submitting dated July 8, 2024 filed via Mr. Chen (the “Schedule 13D Amendment”), Mr. Chen and diverse entities fully owned via him (the “Corporate Obligors”) have settled all in their responsibilities underneath the Daring Best friend Mortgage. The agreement used to be funded the usage of proceeds generated from the issuance of a promissory be aware (the “Note”) to Glorious Lavish Holdings Restricted and the prevailing money reserves of Mr. Chen.
Because of the agreement of the Daring Best friend Mortgage, the collateral for the Daring Best friend Mortgage has been exempted in complete pursuant to a deed of enterprise as disclosed within the Time table 13D Modification, and Mr. Chen has restored his really helpful possession pastime in 33,628,926 Magnificence A regular stocks of the Corporate, the possession of which used to be prior to now transferred to Daring Best friend (Cayman) Restricted.
The Observe is fasten via 68,373,133 Magnificence A regular stocks and 27,757,992 Magnificence B regular stocks beneficially owned via Mr. Chen and the Company Obligors, representing within the combination roughly 6.00% of the issued and exceptional percentage capital and 18.41% of the overall vote casting energy within the Corporate as of the generation of the Time table 13D Modification.
Mr. Chen and the Company Obligors have additionally made diverse undertakings with recognize to the stocks of the Corporate. Those undertakings come with buying the Corporate to not factor or serve, in any monetary hour, fairness securities (together with rights to obtain stocks) representing 5% or extra of the overall issued and exceptional capital of the Corporate (on a fully-diluted foundation) to anyone, together with Mr. Chen and the Company Obligors themselves, matter to exceptions. Main points of such undertakings are prepared forth within the Time table 13D Modification.
Making an allowance for the vote casting energy owned via Mr. Chen, his veto rights over positive company movements thru his really helpful possession of 60,000 magnificence C regular stocks and his government powers as co-Chairperson and meantime Prominent Government Officer of the Corporate, Mr. Chen holds important energy to direct or affect the control and insurance policies of the Corporate as a controlling individual.
About VNET
VNET Workforce, Inc. is a important carrier- and cloud-neutral web knowledge middle products and services supplier in China. VNET supplies webhosting and similar products and services, together with IDC products and services, cloud products and services, and industry VPN products and services to make stronger the reliability, safety, and pace of its shoppers’ web infrastructure. Shoppers would possibly find their servers and gear in VNET’s knowledge facilities and fasten to China’s web spine. VNET operates in additional than 30 towns all through China, servicing a diverse and dependable bottom of over 7,500 webhosting and similar endeavor shoppers that span various industries starting from web corporations to govt entities and blue-chip enterprises to small- to mid-sized enterprises.
Guard Harbor Observation
This announcement comprises forward-looking statements. Those forward-looking statements are made underneath the “safe harbor” provisions of the U.S. Personal Securities Litigation Reform Office of 1995. Those statements can also be known via terminology similar to “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “target,” “believes,” “estimates” and alike statements. Amongst alternative issues, quotations from control on this announcement in addition to VNET’s strategic and operational plans include forward-looking statements. VNET might also form written or oral forward-looking statements in its reviews filed with, or furnished to, the U.S. Securities and Alternate Fee, in its annual reviews to shareholders, in press releases and alternative written fabrics and in oral statements made via its officials, administrators or staff to 3rd events. Statements that don’t seem to be historic details, together with statements about ideals and expectancies at the pace efficiency of VNET, are forward-looking statements. Ahead-looking statements contain inherent dangers and uncertainties. Plenty of components may just purpose unedited effects to vary materially from the ones contained in any forward-looking remark, together with however no longer restricted to please see: VNET’s objectives and methods; VNET’s liquidity statuses; VNET’s growth plans; the anticipated expansion of the information middle products and services marketplace; expectancies referring to call for for, and marketplace acceptance of, VNET’s products and services; VNET’s expectancies referring to preserving and wholesome its relationships with shoppers; VNET’s plans to spend money on analysis and construction to beef up its resolution and repair choices; and basic financial and industry statuses within the areas the place VNET supplies answers and products and services. Additional knowledge referring to those and alternative dangers is incorporated in VNET’s reviews filed with, or furnished to, the U.S. Securities and Alternate Fee. All knowledge equipped on this press let go is as of the generation of this press let go, and VNET undertakes refuse responsibility to replace such knowledge, apart from as required underneath acceptable legislation.
Investor Members of the family Touch:
Xinyuan Liu
Tel: +86 10 8456 2121
Electronic mail: [email protected]
SOURCE VNET Workforce, Inc.
