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Associated Press
30-05-2025
- Business
- Associated Press
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 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. 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. 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'). 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 in order to facilitate the privately negotiated derivative transactions entered into by some holders of the Notes for purposes of hedging their investment in the Notes. The Company also entered into an ADS lending agreement (the 'ADS Lending Agreement') with an affiliate of the initial purchaser of the Notes Offering (such affiliate being the 'ADS Borrower'), pursuant to which the Company lent the Borrowed ADSs to the ADS Borrower. The ADS Borrower or its affiliate received all of the proceeds from the sale of the Borrowed ADSs and the Company did not receive any of those proceeds, but the ADS Borrower paid the Company a nominal lending fee for the use of those ADSs pursuant to the ADS Lending Agreement. The activity described above could affect the market price of the Company's ADSs otherwise prevailing at that time. Nothing contained herein shall constitute an offer to sell or the solicitation of an offer to buy any securities, including the Primary ADSs, the Notes or the Borrowed ADSs, nor shall there be any offer or sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. The Primary ADSs Offering and the Delta Placement of Borrowed ADSs were made only by means of separate prospectus supplements and accompanying prospectuses pursuant to an effective registration statement filed with the U.S. Securities and Exchange Commission (the 'SEC'). J.P. Morgan, BofA Securities, Morgan Stanley and UBS Investment Bank acted as joint book-running managers, and China Galaxy and Guotai Junan International acted as financial advisors, for the Primary ADSs Offering. The Company filed an automatic shelf registration statement on Form F-3 with the SEC. A preliminary prospectus supplement and the accompanying prospectus describing the terms of the Primary ADSs Offering were filed with the SEC. The prospectus supplement for the Primary ADSs Offering was filed with the SEC. The Primary ADSs Offering was made only by means of the prospectus supplement and accompanying prospectus. You may obtain these documents free of charge by visiting EDGAR on the SEC website at Copies of the prospectus supplement and the accompanying prospectus may be obtained from: (i) J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 866-803-9204 or by email at [email protected]; (ii) BofA Securities, Inc., One Bryant Park, New York, NY, 10036, Attention: Prospectus Department, telephone: +1 (800) 294-1322, email: [email protected]; (iii) Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; or (iv) UBS Investment Bank, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, by telephone: (888) 827-7275 or email: [email protected]. About GDS Holdings Limited GDS Holdings Limited (NASDAQ: GDS; HKEX: 9698) is a leading developer and operator of high-performance data centers in China. The Company's facilities are strategically located in and around primary economic hubs where demand for high-performance data center services is concentrated. The Company's data centers have large net floor area, high power capacity, density and efficiency, and multiple redundancies across all critical systems. GDS is carrier and cloud-neutral, which enables its customers to access the major telecommunications networks, as well as the largest PRC and global public clouds, which are hosted in many of its facilities. The Company offers co-location and a suite of value-added services, including managed hybrid cloud services through direct private connection to leading public clouds, managed network services, and, where required, the resale of public cloud services. The Company has a 24-year track record of service delivery, successfully fulfilling the requirements of some of the largest and most demanding customers for outsourced data center services in China. The Company's customer base consists predominantly of hyperscale cloud service providers, large internet companies, financial institutions, telecommunications carriers, IT service providers, and large domestic private sector and multinational corporations. The Company also holds a non-controlling 35.6% equity interest in DayOne Data Centers Limited which develops and operates data centers in International markets. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as 'aim,' 'anticipate,' 'believe,' 'continue,' 'estimate,' 'expect,' 'future,' 'guidance,' 'intend,' 'is/are likely to,' 'may,' 'ongoing,' 'plan,' 'potential,' 'target,' 'will,' and similar statements. Among other things, statements that are not historical facts, including statements about GDS Holdings' beliefs and expectations regarding the Primary ADSs Offering, the Notes Offering and the Delta Placement of Borrowed ADSs, the growth of its businesses and its revenue for the full fiscal year, the business outlook and quotations from management in this announcement, as well as GDS Holdings' strategic and operational plans, are or contain forward-looking statements. GDS Holdings may also make written or oral forward-looking statements in its periodic reports to the SEC on Forms 20-F and 6-K, in its current, interim and annual reports to shareholders, in announcements, circulars or other publications made on the website of the Stock Exchange of Hong Kong Limited (the 'Hong Kong Stock Exchange'), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause GDS Holdings' actual results or financial performance to differ materially from those contained in any forward-looking statement, including but not limited to the following: GDS Holdings' goals and strategies; GDS Holdings' future business development, financial condition and results of operations; the expected growth of the market for high-performance data centers, data center solutions and related services in China and regions in which GDS' major equity investees operate, such as South East Asia; GDS Holdings' expectations regarding demand for and market acceptance of its high-performance data centers, data center solutions and related services; GDS Holdings' expectations regarding building, strengthening and maintaining its relationships with new and existing customers; the results of operations, growth prospects, financial condition, regulatory environment, competitive landscape and other uncertainties associated with the business and operations of our significant equity investee DayOne; the continued adoption of cloud computing and cloud service providers in China and other major markets that may impact the results of our equity investees, such as South East Asia; risks and uncertainties associated with increased investments in GDS Holdings' business and new data center initiatives; risks and uncertainties associated with strategic acquisitions and investments; GDS Holdings' ability to maintain or grow its revenue or business; fluctuations in GDS Holdings' operating results; changes in laws, regulations and regulatory environment that affect GDS Holdings' business operations and those of its major equity investees; competition in GDS Holdings' industry in China and in markets that affect the business of our major equity investees, such as South East Asia; security breaches; power outages; and fluctuations in general economic and business conditions in China and globally, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in GDS Holdings' filings with the SEC, including its annual report on Form 20-F, and with the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release and are based on assumptions that GDS Holdings believes to be reasonable as of such date, and GDS Holdings does not undertake any obligation to update any forward-looking statement, except as required under applicable law. For investor and media inquiries, please contact: GDS Holdings Limited Laura Chen Phone: +86 (21) 2029-2203 Email: [email protected] Piacente Financial Communications Ross Warner Phone: +86 (10) 6508-0677 Email: [email protected] Brandi Piacente Phone: +1 (212) 481-2050 Email: [email protected] GDS Holdings Limited
Associated Press
30-05-2025
- Business
- Associated Press
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$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'). 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. 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. 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'). The Company also announced today by separate press release the closing of a separate registered public offering (the 'Primary ADSs Offering') of 5,980,000 ADSs (the 'Primary ADSs'), at a public offering price of US$24.50 per ADS (which is the same public offering price as the Delta Public Offering Price), and reflecting the exercise in full by the underwriters in the Primary ADSs Offering of their option to purchase 780,000 additional Primary ADSs. Nothing contained herein shall constitute an offer to sell or the solicitation of an offer to buy any securities, including the Borrowed ADSs, the Notes or the Primary ADSs, nor shall there be any offer or sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. The Delta Placement of Borrowed ADSs and the Primary ADSs Offering were made only by means of separate prospectus supplements and accompanying prospectuses pursuant to an effective registration statement filed with the U.S. Securities and Exchange Commission (the 'SEC'). The Company filed an automatic shelf registration statement on Form F-3 with the SEC. A preliminary prospectus supplement and the accompanying prospectus describing the terms of the Delta Placement of Borrowed ADSs were filed with the SEC. The prospectus supplement for the Delta Placement of Borrowed ADSs was filed with the SEC. The Delta Placement of Borrowed ADSs was made only by means of the prospectus supplement and accompanying prospectus. You may obtain these documents free of charge by visiting EDGAR on the SEC website at Copies of the prospectus supplement and the accompanying prospectus may be obtained by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 866-803-9204 or by email at [email protected]. About GDS Holdings Limited GDS Holdings Limited (NASDAQ: GDS; HKEX: 9698) is a leading developer and operator of high-performance data centers in China. The Company's facilities are strategically located in and around primary economic hubs where demand for high-performance data center services is concentrated. The Company's data centers have large net floor area, high power capacity, density and efficiency, and multiple redundancies across all critical systems. GDS is carrier and cloud-neutral, which enables its customers to access the major telecommunications networks, as well as the largest PRC and global public clouds, which are hosted in many of its facilities. The Company offers co-location and a suite of value-added services, including managed hybrid cloud services through direct private connection to leading public clouds, managed network services, and, where required, the resale of public cloud services. The Company has a 24-year track record of service delivery, successfully fulfilling the requirements of some of the largest and most demanding customers for outsourced data center services in China. The Company's customer base consists predominantly of hyperscale cloud service providers, large internet companies, financial institutions, telecommunications carriers, IT service providers, and large domestic private sector and multinational corporations. The Company also holds a non-controlling 35.6% equity interest in Day One Data Centers Limited which develops and operates data centers in International markets. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as 'aim,' 'anticipate,' 'believe,' 'continue,' 'estimate,' 'expect,' 'future,' 'guidance,' 'intend,' 'is/are likely to,' 'may,' 'ongoing,' 'plan,' 'potential,' 'target,' 'will,' and similar statements. Among other things, statements that are not historical facts, including statements about GDS Holdings' beliefs and expectations regarding the Notes Offering, Delta Placement of Borrowed ADSs and the Primary ADSs Offering, the growth of its businesses and its revenue for the full fiscal year, the business outlook and quotations from management in this announcement, as well as GDS Holdings' strategic and operational plans, are or contain forward-looking statements. GDS Holdings may also make written or oral forward-looking statements in its periodic reports to the SEC on Forms 20-F and 6-K, in its current, interim and annual reports to shareholders, in announcements, circulars or other publications made on the website of the Stock Exchange of Hong Kong Limited (the 'Hong Kong Stock Exchange'), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause GDS Holdings' actual results or financial performance to differ materially from those contained in any forward-looking statement, including but not limited to the following: GDS Holdings' goals and strategies; GDS Holdings' future business development, financial condition and results of operations; the expected growth of the market for high-performance data centers, data center solutions and related services in China and regions in which GDS' major equity investees operate, such as South East Asia; GDS Holdings' expectations regarding demand for and market acceptance of its high-performance data centers, data center solutions and related services; GDS Holdings' expectations regarding building, strengthening and maintaining its relationships with new and existing customers; the results of operations, growth prospects, financial condition, regulatory environment, competitive landscape and other uncertainties associated with the business and operations of our significant equity investee DayOne; the continued adoption of cloud computing and cloud service providers in China and other major markets that may impact the results of our equity investees, such as South East Asia; risks and uncertainties associated with increased investments in GDS Holdings' business and new data center initiatives; risks and uncertainties associated with strategic acquisitions and investments; GDS Holdings' ability to maintain or grow its revenue or business; fluctuations in GDS Holdings' operating results; changes in laws, regulations and regulatory environment that affect GDS Holdings' business operations and those of its major equity investees; competition in GDS Holdings' industry in China and in markets that affect the business of our major equity investees, such as South East Asia; security breaches; power outages; and fluctuations in general economic and business conditions in China and globally, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in GDS Holdings' filings with the SEC, including its annual report on Form 20-F, and with the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release and are based on assumptions that GDS Holdings believes to be reasonable as of such date, and GDS Holdings does not undertake any obligation to update any forward-looking statement, except as required under applicable law. For investor and media inquiries, please contact: GDS Holdings Limited Laura Chen Phone: +86 (21) 2029-2203 Email: [email protected] Piacente Financial Communications Ross Warner Phone: +86 (10) 6508-0677 Email: [email protected] Brandi Piacente Phone: +1 (212) 481-2050 Email: [email protected] GDS Holdings Limited
Yahoo
28-05-2025
- Business
- Yahoo
GDS Prices Offering of American Depositary Shares in connection with the Delta Placement of Borrowed ADSs
SHANGHAI, China, May 27, 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 pricing 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 intends to loan (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'). The ADS Borrower or its affiliate will receive all of the proceeds from the sale of the Borrowed ADSs. The Company will not receive any proceeds from the Delta Placement of Borrowed ADSs but will receive from the ADS Borrower a nominal lending fee, which will be 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. The Borrowed ADSs will be sold concurrently with the pricing of the Notes Offering (as defined below) and the Primary ADSs Offering (as defined below). The Company has been 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. The Company also announced today by separate press release that the Company has priced an offering (the 'Notes Offering') of 2.25% convertible senior notes in an aggregate principal amount of US$500 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 offering size was upsized from $450 million aggregate principal amount. The Company has granted the initial purchasers in the Notes Offering an option to purchase up to an additional US$50 million in aggregate principal amount of the Notes, exercisable for settlement within a 13-day period, beginning on, and including, the first date on which the Notes are issued. The Company also announced today by separate press release that the Company has priced a separate registered public offering (the 'Primary ADSs Offering') of 5,200,000 ADSs (the 'Primary ADSs'), at a public offering price of US$24.50 per ADS (which is the same public offering price as the Delta Public Offering Price). The underwriters in the Primary ADSs Offering have been granted a 30-day option to purchase up to 780,000 additional Primary ADSs. Nothing contained herein shall constitute an offer to sell or the solicitation of an offer to buy any securities, including the Borrowed ADSs, the Notes or the Primary ADSs, nor shall there be any offer or sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. The Delta Placement of Borrowed ADSs and the Primary ADSs Offering are being made only by means of separate prospectus supplements and accompanying prospectuses pursuant to an effective registration statement filed with the U.S. Securities and Exchange Commission (the 'SEC'). The closing of each of the the Delta Placement of Borrowed ADSs, the Primary ADSs Offering and the Notes Offering is conditioned upon the closing of each of the other offerings and vice versa. If any of the three offerings are not consummated, the ADS loan transaction under the ADS Lending Agreement will terminate and all of the Borrowed ADSs must be returned to GDS. The Company has filed an automatic shelf registration statement on Form F-3 with the SEC. A prospectus supplement and the accompanying prospectus describing the terms of the Delta Placement of Borrowed ADSs have been filed with the SEC. When available, the prospectus supplement for the Delta Placement of Borrowed ADSs will be filed with the SEC. The Delta Placement of Borrowed ADSs is being made only by means of the prospectus supplement and accompanying prospectus. Before you invest, you should read the prospectus supplement and the accompanying prospectus and other documents that the Company has filed with the SEC for more complete information about the Company and the offering. You may obtain these documents free of charge by visiting EDGAR on the SEC website at Copies of the prospectus supplement and the accompanying prospectus may be obtained by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 866-803-9204 or by email at prospectus-eq_fi@ About GDS Holdings Limited GDS Holdings Limited (NASDAQ: GDS; HKEX: 9698) is a leading developer and operator of high-performance data centers in China. The Company's facilities are strategically located in and around primary economic hubs where demand for high-performance data center services is concentrated. The Company's data centers have large net floor area, high power capacity, density and efficiency, and multiple redundancies across all critical systems. GDS is carrier and cloud-neutral, which enables its customers to access the major telecommunications networks, as well as the largest PRC and global public clouds, which are hosted in many of its facilities. The Company offers co-location and a suite of value-added services, including managed hybrid cloud services through direct private connection to leading public clouds, managed network services, and, where required, the resale of public cloud services. The Company has a 24-year track record of service delivery, successfully fulfilling the requirements of some of the largest and most demanding customers for outsourced data center services in China. The Company's customer base consists predominantly of hyperscale cloud service providers, large internet companies, financial institutions, telecommunications carriers, IT service providers, and large domestic private sector and multinational corporations. The Company also holds a non-controlling 35.6% equity interest in Day One Data Centers Limited which develops and operates data centers in International markets. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as 'aim,' 'anticipate,' 'believe,' 'continue,' 'estimate,' 'expect,' 'future,' 'guidance,' 'intend,' 'is/are likely to,' 'may,' 'ongoing,' 'plan,' 'potential,' 'target,' 'will,' and similar statements. Among other things, statements that are not historical facts, including statements about GDS Holdings' beliefs and expectations regarding the Notes Offering, Delta Placement of Borrowed ADSs and the Primary ADSs Offering, the growth of its businesses and its revenue for the full fiscal year, the business outlook and quotations from management in this announcement, as well as GDS Holdings' strategic and operational plans, are or contain forward-looking statements. GDS Holdings may also make written or oral forward-looking statements in its periodic reports to the SEC on Forms 20-F and 6-K, in its current, interim and annual reports to shareholders, in announcements, circulars or other publications made on the website of the Stock Exchange of Hong Kong Limited (the 'Hong Kong Stock Exchange'), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause GDS Holdings' actual results or financial performance to differ materially from those contained in any forward-looking statement, including but not limited to the following: GDS Holdings' goals and strategies; GDS Holdings' future business development, financial condition and results of operations; the expected growth of the market for high-performance data centers, data center solutions and related services in China and regions in which GDS' major equity investees operate, such as South East Asia; GDS Holdings' expectations regarding demand for and market acceptance of its high-performance data centers, data center solutions and related services; GDS Holdings' expectations regarding building, strengthening and maintaining its relationships with new and existing customers; the results of operations, growth prospects, financial condition, regulatory environment, competitive landscape and other uncertainties associated with the business and operations of our significant equity investee DayOne; the continued adoption of cloud computing and cloud service providers in China and other major markets that may impact the results of our equity investees, such as South East Asia; risks and uncertainties associated with increased investments in GDS Holdings' business and new data center initiatives; risks and uncertainties associated with strategic acquisitions and investments; GDS Holdings' ability to maintain or grow its revenue or business; fluctuations in GDS Holdings' operating results; changes in laws, regulations and regulatory environment that affect GDS Holdings' business operations and those of its major equity investees; competition in GDS Holdings' industry in China and in markets that affect the business of our major equity investees, such as South East Asia; security breaches; power outages; and fluctuations in general economic and business conditions in China and globally, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in GDS Holdings' filings with the SEC, including its annual report on Form 20-F, and with the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release and are based on assumptions that GDS Holdings believes to be reasonable as of such date, and GDS Holdings does not undertake any obligation to update any forward-looking statement, except as required under applicable law. For investor and media inquiries, please contact: GDS Holdings LimitedLaura ChenPhone: +86 (21) 2029-2203Email: ir@ Piacente Financial CommunicationsRoss WarnerPhone: +86 (10) 6508-0677Email: GDS@ Brandi PiacentePhone: +1 (212) 481-2050Email: GDS@ GDS Holdings LimitedError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
23-05-2025
- Business
- Associated Press
Outlook Therapeutics® Announces Pricing of $13.0 Million Public Offering
ISELIN, N.J., May 23, 2025 (GLOBE NEWSWIRE) -- Outlook Therapeutics, Inc. (Nasdaq: OTLK), a biopharmaceutical company focused on enhancing the standard of care for bevacizumab for the treatment of retina diseases, today announced the pricing of an underwritten public offering of 9,285,714 shares of its common stock, together with accompanying warrants to purchase 18,571,428 shares of its common stock. The combined public offering price of common stock and accompanying warrant is $1.40. The common stock is being sold in combination with an accompanying warrant to purchase two shares of common stock issued for each share of common stock sold. The accompanying warrant has an exercise price of $1.40 per share, will become exercisable immediately and will expire five years from the date of issuance. The offering is expected to close on May 27, 2025, subject to the satisfaction of customary closing conditions. The gross proceeds from the offering, before deducting the underwriting discounts and commissions and offering expenses payable by Outlook Therapeutics are expected to be approximately $13.0 million. Outlook Therapeutics intends to use the net proceeds from the offering for working capital and other general corporate purposes. BTIG, LLC is acting as sole book-running manager for the offering. The securities described above are being offered by Outlook Therapeutics pursuant to a shelf registration statement on Form S-3 (No. 333-278340) that was declared effective by the Securities and Exchange Commission (SEC) on April 5, 2024. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website located at Copies of the preliminary prospectus supplement and the final prospectus supplement relating to this offering may be obtained, when available, by contacting: BTIG, LLC, 65 East 55th Street, New York, New York 10022, by telephone at (212) 593-7555 or by email at [email protected]. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction. About Outlook Therapeutics, Inc. Outlook Therapeutics is a biopharmaceutical company focused on the development and commercialization of ONS-5010/LYTENAVA™ (bevacizumab-vikg; bevacizumab gamma) to enhance the standard of care for bevacizumab for the treatment of retina diseases. LYTENAVA™ (bevacizumab gamma) is the first ophthalmic formulation of bevacizumab to receive European Commission and Medicines and Healthcare products Regulatory Agency Marketing Authorization for the treatment of wet age-related macular degeneration (wet AMD). Outlook Therapeutics is working to initiate its commercial launch of LYTENAVA™ (bevacizumab gamma) in the European Union and the United Kingdom as a treatment for wet AMD, expected in the second quarter of calendar year 2025. In the United States, ONS-5010/LYTENAVA™ is investigational, and a Biologics License Application has been resubmitted to the U.S. Food and Drug Administration. If approved in the United States, ONS-5010/LYTENAVA™, would be the first approved ophthalmic formulation of bevacizumab for use in retinal indications, including wet AMD. Forward-Looking Statements This press release contains forward-looking statements. All statements other than statements of historical facts are 'forward-looking statements,' including those relating to future events. In some cases, you can identify forward-looking statements by terminology such as 'anticipate,' 'believe,' 'continue,' 'expect,' 'may,' 'plan,' 'potential,' 'will,' or 'would' the negative of terms like these or other comparable terminology, and other words or terms of similar meaning. These include, among others, statements regarding the gross proceeds from the offering, the use of proceeds from the offering, the completion of the offering, expectations concerning decisions of regulatory bodies and the timing thereof, plans for commercial launch of LYTENAVA™ in the EU and the UK and the timing thereof and other statements that are not historical fact. Although Outlook Therapeutics believes that it has a reasonable basis for the forward-looking statements contained herein, they are based on current expectations about future events affecting Outlook Therapeutics and are subject to risks, uncertainties and factors relating to its operations and business environment, all of which are difficult to predict and many of which are beyond its control. These risk factors include fluctuations in Outlook Therapeutics' stock price, changes in market conditions and satisfaction of customary closing conditions related to the offering, risks in obtaining necessary regulatory approvals, the content and timing of decisions by regulatory bodies, and the sufficiency of Outlook Therapeutics' resources, as well as those risks detailed in Outlook Therapeutics' filings with the SEC, including the Annual Report on Form 10-K for the fiscal year ended September 30, 2024, filed with the SEC on December 27, 2024, and subsequent filings with the SEC, which include uncertainty of market conditions and future impacts related to macroeconomic factors, including as a result of the ongoing overseas conflicts, tariffs and trade tensions, fluctuations in interest rates and inflation, and potential future bank failures on the global business environment. These risks may cause actual results to differ materially from those expressed or implied by forward-looking statements in this press release. All forward-looking statements included in this press release are expressly qualified in their entirety by the foregoing cautionary statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Outlook Therapeutics does not undertake any obligation to update, amend or clarify these forward-looking statements whether as a result of new information, future events or otherwise, except as may be required under applicable securities law. Investor Inquiries: Jenene Thomas Chief Executive Officer JTC Team, LLC T: 908.824.0775 [email protected] Source: Outlook Therapeutics, Inc.
Yahoo
16-05-2025
- Business
- Yahoo
PAVmed Inc (PAVM) Q1 2025 Earnings Call Highlights: Strategic Expansion and Financial Fortification
Release Date: May 15, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. PAVmed Inc (NASDAQ:PAVM) has successfully stabilized its corporate structure and balance sheet, positioning itself as a diversified commercial life science company. The company reported a significant strengthening of its balance sheet with a public offering netting $16.1 million, extending its financial runway well into 2026. Lucid, a subsidiary of PAVmed Inc (NASDAQ:PAVM), is on the cusp of key milestones, including Medicare coverage, and reported revenue of $800,000 with test volumes at the upper end of their target range. PAVmed Inc (NASDAQ:PAVM) has secured financing to restart development of a critical implantable monitor for its subsidiary, Veris, and is close to finalizing a strategic partnership. The company is actively pursuing expansion into the biopharma space, leveraging its infrastructure and track record to explore attractive assets and partnerships. PAVmed Inc (NASDAQ:PAVM) faces uncertainties related to forward-looking statements, which are subject to risks that could cause actual results to differ materially. The company is still awaiting a response from the Medicare program regarding coverage for its e-cigarette diagnostic, which is crucial for accelerating commercialization. There are significant differences in financial reporting due to the deconsolidation of Lucid, which may blur historical understanding of PAVmed Inc (NASDAQ:PAVM)'s financials. The company has a complex corporate structure with multiple subsidiaries, which may pose challenges in management and strategic alignment. PAVmed Inc (NASDAQ:PAVM) is pursuing multiple initiatives simultaneously, including expansion into biopharma, which could stretch its resources and focus. Warning! GuruFocus has detected 8 Warning Signs with PAVM. Q: Now that the pilot program is complete, can you share any feedback from physicians and patients, and has this influenced any changes to the platform before commercialization? A: We've received excellent feedback, meeting all pre-specified performance metrics, including patient satisfaction and clinical success. There is significant enthusiasm, especially with the upcoming implantable monitor. No immediate changes to the platform are needed, but we've learned valuable lessons on implementation processes, which we are applying moving forward. (Respondent: Unidentified_6) Q: Does OSU have exclusive rights to the Veris platform, or are you in talks with other centers? A: OSU has some local rights but nothing that limits our broader commercialization efforts. We aim to use our strong relationship with OSU as a model to replicate at other cancer centers nationwide. (Respondent: Unidentified_6) Q: Can you elaborate on your expansion into the biopharma segment and the financing strategy for this venture? A: Our corporate structure and balance sheet adjustments have positioned us to explore new opportunities, including biopharma. We plan to leverage our infrastructure and track record to pursue attractive assets, particularly those struggling to raise private capital. Financing will follow our model of independently financed subsidiaries, similar to Lucid and Veris. (Respondent: Unidentified_6) Q: Has market volatility affected your ability to raise capital? A: No, we've been fortunate to attract investors aligned with our vision. Our recent financing activities demonstrate our ability to secure necessary funds, and we expect to continue accessing both private and public capital as needed. (Respondent: Unidentified_4) Q: What is the strategic rationale for expanding into biopharma now, given your existing commitments? A: Our structure allows us to pursue shareholder value across various sectors. The biopharma expansion is driven by opportunities identified with our board member, Dr. Sande Agarwal, and aligns with our history of leveraging infrastructure for new ventures. We believe this sector offers streamlined pathways to value creation. (Respondent: Unidentified_6) For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
