GDS Holdings Raises $300 Million in Private Placement, Issuing Convertible Preferred Shares to Chinese Institutional Investor

GDS Holdings, a leading developer and operator of high-performance data centers in China, has announced a private placement of US$300 million convertible preferred shares to Huatai Capital Investment Limited, a Chinese institutional investor. The proceeds will fund expansion of data center capacity and general corporate purposes. The convertible preferred shares have a minimum 3.75% p.a. dividend, accrue a 6.75% p.a. dividend after six years, and can be converted into GDS's Class A ordinary shares at a conversion price of approximately US$54.43 per ADS, representing a premium of approximately 17.5% above its last closing price.