Company: GDHLF
Filing Date: 2025-05-29
Form Type: 424B5
Source: 0001104659-25-053912
Chunk: 113

Company: GDS Holdings Ltd
Filing Date: 2025-05-29
Form: 424B5
Chunk 113
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 the Borrowed ADSs (or ADSs fungible with the Borrowed ADSs or other substitute securities or property as provided for in the ADS Lending Agreement) must be returned to us. We expect that delivery of the Borrowed ADSs will be made against payment therefor on May 30, 2025 (such settlement being referred to as “T+2”). Under Rule 15c6-1 under the Securities Exchange Act of 1934 (the “Exchange Act”), as amended, trades in the secondary market generally are required to settle in one business day, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the ADSs more than one business day prior to May 30, 2025 will be required, by virtue of the fact that the Borrowed ADSs settle on T+2 to specify an alternate settlement arrangement at the time of any such trade to

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prevent a failed settlement. Purchasers of the Borrowed ADSs who wish to trade the Borrowed ADSs during such period should consult their advisor.

#### Lock-Up Agreements
Except for (i) the Borrowed ADSs to be sold in this offering, the sale of convertible senior notes under the Notes Purchase Agreement in the Concurrent Offering, the ADSs to be sold in the Concurrent Primary ADS Offering, the ADSs or Class A ordinary shares to be issued upon conversion thereof and the Class A ordinary shares represented thereby, (ii) any Class A ordinary shares or ADSs, or any securities convertible into or exercisable or exchangeable for Class A ordinary shares or ADSs (the “Lock-Up Shares”) issued in connection with the share-based awards outstanding on the date hereof pursuant to any employee performance incentive plans adopted and approved by the board of directors, (iii) the issuance of any share-based awards pursuant to any existing employee performance incentive plans adopted and approved by the board of directors, provided the participant of the share-based awards enter into a lock-up agreement, and (iv) the filing of a registration statement on Form S-8 in connection with the registration of Class A ordinary shares issuable under any equity incentive plan adopted and approved by the board of directors, during the period commencing on the date of the underwriting agreement and ending on, and including, the date that is 90 days after the pricing date of the Borrowed ADSs (the “Restricted Period”), we agree not to,

(a)

offer, pledge, issue, sell, contract to