Company: GDHLF
Filing Date: 2025-05-29
Form Type: 424B5
Source: 0001104659-25-053912
Chunk: 112

Company: GDS Holdings Ltd
Filing Date: 2025-05-29
Form: 424B5
Chunk 112
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 receive compensation in the form of discounts, concessions or commissions from the ADS Borrower (or its affiliate) and/or from purchasers of Borrowed ADSs for whom the dealers may act as agents or to whom they may sell as principals. Sale of any Borrowed ADSs made outside of the United States may be made by an affiliate of the underwriter. The ADS Borrower or its affiliates will use the short positions resulting from the Delta Placement of the Borrowed ADSs to facilitate privately negotiated derivative transactions, by which certain investors in our convertible senior notes, who employ a convertible arbitrage strategy, will hedge their market risk with respect to the convertible senior notes. These derivative transactions are expected to be on market-standard terms for such type of transactions. During the term of such transactions, such investors may use their synthetic short positions established thereunder at their sole discretion. See “Description of the Delta Placement of Borrowed ADSs and Concurrent Offering of Convertible Senior Notes.” The ADS Borrower, or its affiliates, will receive all of the proceeds from the sale of the Borrowed ADSs. While we will not receive any proceeds from the sale of the Borrowed ADSs, under the ADS Lending Agreement, we will receive a nominal lending fee for the use of such Borrowed ADSs of US$0.0004 per ADS from the ADS Borrower or its affiliates. Our ADSs are listed on The Nasdaq Global Market under the symbol “GDS” and our Class A ordinary share are listed on the Main Board of the Hong Kong Stock Exchange under the stock code “9698.” We have agreed to indemnify the initial purchaser of the convertible senior notes, and the ADS Borrower and the Borrowed ADS Underwriter against some specified types of liabilities, including liabilities under the Securities Act, and to contribute to payments the initial purchaser of the convertible senior notes or the ADS Borrower and the Borrowed ADS Underwriter may be required to make in respect of any of these liabilities. The completion of the Delta Placement of Borrowed ADSs is contingent upon the completion of both the Concurrent Primary ADSs Offering and the Concurrent Notes Offering, and the completion of each of the Concurrent Primary ADSs Offering and the Concurrent Notes Offering is contingent upon the completion of each other and the Delta Placement of Borrowed ADSs hereunder. If the Concurrent Notes Offering is not consummated, the Concurrent Primary ADSs Offering will terminate, the ADS Loan under the ADS Lending Agreement will terminate, and the Delta Placement of Borrowed ADSs will terminate and all of