BEIJING, March 13, 2025 /PRNewswire/ — VNET Team, Inc. (Nasdaq: VNET) (“VNET” or the “Company”), a chief carrier-neutral and cloud-neutral web information heart services and products supplier in China, lately introduced the graduation of a proposed providing via the Corporate of US$400 million combination major quantity of its convertible senior notes due 2030 (the “Notes”), topic to marketplace and alternative statuses (the “Notes Offering”).
The Notes will probably be senior, unsecured tasks of the Corporate, and can accrue hobby payable semi-annually in arrears and can mature on April 1, 2030, until previous repurchased, redeemed or transformed in line with their phrases previous to such while.
Holders of the Notes would possibly require the Corporate to repurchase all or a part of their Notes in money on April 3, 2028 or within the match of positive elementary adjustments, at a repurchase worth equivalent to 100% of the major quantity of the Notes to be repurchased, plus collected and unpaid hobby, if any, to, however apart from, the related repurchase while. As well as, on or next April 10, 2028, the Corporate would possibly redeem all or a part of the Notes for money topic to positive statuses, at a redemption worth equivalent to 100% of the major quantity of the Notes to be redeemed, plus collected and unpaid hobby, if any, to, however now not together with, the related not obligatory redemption while. Moreover, the Corporate would possibly redeem all however now not a part of the Notes within the match of positive adjustments within the tax regulations, at a redemption worth equivalent to 100% of the major quantity of the Notes to be redeemed, plus collected and unpaid hobby, if any, to, however now not together with, the alike redemption while.
Sooner than October 1, 2029, Holders of the Notes may have the correct to transform their Notes handiest upon the prevalence of positive occasions. From and next October 1, 2029, Holders of the Notes would possibly convert their Notes at any occasion at their election till the similar of industrial on the second one scheduled buying and selling hour straight away previous the adulthood while. The Corporate will choose conversions via paying or turning in, as appropriate, money, the American Depositary Stocks, every representing six Elegance A familiar stocks, with par worth of US$0.00001 in keeping with proportion, of the Corporate (the “ADSs”) or a mix of money and ADSs, on the Corporate’s election, topic to positive restrictions. The overall phrases of the Notes, together with the rate of interest, preliminary conversion fee and likely alternative phrases of the Notes, will probably be ambitious on the pricing of the Notes Providing.
The Notes are introduced in offshore transactions out of doors the USA to non-U.S. individuals in compliance with Legislation S beneath the USA Securities Function of 1933, as amended (the “Securities Act”). The Notes, the ADSs deliverable upon conversion of the Notes (if any) and the Elegance A familiar stocks represented thereby have now not been and might not be registered beneath the Securities Function or any alternative appropriate securities regulations, and is probably not bought or in a different way transferred with the exception of beneath an exemption from, or in a transaction now not topic to, the registration necessities of the Securities Function and in compliance with any alternative appropriate securities regulations. Disagree population providing of the Notes, the ADSs deliverable upon conversion of the Notes (if any) and the Elegance A familiar stocks represented thereby is being made into the USA.
The Corporate intends to importance the web proceeds from the Notes Providing for the capital funding in wholesale IDC tasks, running capital and normal company functions.
The Corporate expects that possible buyers within the Notes would possibly make use of a convertible arbitrage option to hedge their publicity in reference to the Notes. One of these actions via possible buyers of the Notes following the pricing of the Notes Providing and previous to the adulthood while may just snip (or release the scale of any build up in) the marketplace worth of the ADSs and the buying and selling worth of the Notes. The impact, if any, of the actions described on this paragraph, together with the route or magnitude, available on the market worth of the ADSs or the buying and selling worth of the Notes depends upon a number of elements, together with marketplace statuses, and can’t be ascertained at this occasion.
This press drop shall now not represent an deal to promote or a solicitation of an deal to buy any securities, nor shall there be a sale of the securities in any surrounding or jurisdiction during which such an deal, solicitation or sale could be illegal. This press drop comprises details about the pending Notes Providing, and there will also be disagree promise that such transaction will probably be finished.
About VNET
VNET Team, Inc. is a chief carrier- and cloud-neutral web information heart services and products supplier in China. VNET supplies website hosting and alike services and products, together with IDC services and products, cloud services and products, and industry VPN services and products to give a boost to the reliability, safety, and velocity of its consumers’ web infrastructure. Consumers would possibly find their servers and gear in VNET’s information facilities and fasten to China’s web spine. VNET operates in additional than 30 towns during China, servicing a assorted and constant bottom of over 7,500 website hosting and alike undertaking consumers that span diverse industries starting from web corporations to govt entities and blue-chip enterprises to small- to mid-sized enterprises.
Safeguard Harbor Observation
This announcement comprises forward-looking statements. Those forward-looking statements are made beneath the “safe harbor” provisions of the U.S. Personal Securities Litigation Reform Function of 1995. Those statements will also be known via terminology similar to “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “target,” “believes,” “estimates” and related statements. Amongst alternative issues, quotations from control on this announcement in addition to VNET’s strategic and operational plans, comprise forward-looking statements. VNET may additionally construct written or oral forward-looking statements in its stories filed with, or furnished to, the U.S. Securities and Alternate Fee, in its annual stories 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 aren’t ancient info, together with statements about VNET’s ideals and expectancies, are forward-looking statements. Ahead-looking statements contain inherent dangers and uncertainties. A lot of elements may just purpose latest effects to range materially from the ones contained in any forward-looking observation, together with however now not restricted to refer to: VNET’s objectives and methods; VNET’s liquidity statuses; VNET’s growth plans; the anticipated expansion of the information heart services and products marketplace; expectancies relating to call for for, and marketplace acceptance of, VNET’s services and products; VNET’s expectancies relating to conserving and nourishing its relationships with consumers; VNET’s plans to put money into analysis and building to make stronger its resolution and repair choices; and normal financial and industry statuses within the areas the place VNET supplies answers and services and products. Additional data relating to those and alternative dangers is incorporated in VNET’s stories filed with, or furnished to, the U.S. Securities and Alternate Fee. All data equipped on this press drop is as of the while of this press drop, and VNET undertakes disagree accountability to replace such data, with the exception of as required beneath appropriate regulation.
Investor Family members Touch:
Xinyuan Liu
Tel: +86 10 8456 2121
E mail: [email protected]
SOURCE VNET Team, Inc.
