Company: GDHLF
Filing Date: 2025-05-29
Form Type: 424B5
Source: 0001104659-25-053912
Chunk: 1

Company: GDS Holdings Ltd
Filing Date: 2025-05-29
Form: 424B5
Chunk 1
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 Offering desire to hedge their investments through the derivative transactions with the ADS Borrower or its affiliates, will be determined at the time of pricing of the Delta Placement of Borrowed ADSs and is expected to be no greater than commercially reasonable initial short positions of such convertible arbitrage investors. The underwriters will initially offer the Borrowed ADSs to the public at US$24.50 per ADS, which is the same price as the price to the public per ADS in the Concurrent Primary ADSs Offering (each as defined below), and may subsequently offer such Borrowed ADSs for sale in one or more transactions on the Nasdaq Global Market, in the over the counter market, through negotiated transactions or otherwise, at market prices prevailing at the time of sale, at prices related to prevailing market prices at the time of sale or at negotiated prices. See “Description of the Delta Placement of Borrowed ADSs and Concurrent Offering of Convertible Senior Notes” and “Underwriting (Conflicts of Interest).” We do not expect to lend any additional ADSs to the ADS Borrower or any other party to facilitate any short positions that may be desired by any initial or subsequent investors in the convertible senior notes after this offering, and will not lend any additional ADSs following any exercise by the initial purchasers in the concurrent convertible notes offering described below of their option to purchase additional convertible senior notes. There can be no assurance that the ADS Borrower will continue to facilitate any privately negotiated derivative transactions by which any convertible arbitrage investors in our convertible senior notes may be hedging their exposure to the market risk of our ADSs and/or Class A ordinary shares during the term of such convertible senior notes. There is no intent that the Delta Placement of Borrowed ADSs will create any inventory of our ADSs and/or Class A ordinary shares with the ADS Borrower or its affiliates that could be made available for borrowing to any investor in our convertible senior notes during the term thereof.

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.” The last reported sale price of our ADSs on the Nasdaq Global Market on May 27, 2025 was US$27.14 per ADS.

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Neither this prospectus supplement nor the accompanying prospectus is an offer in respect of our convertible senior notes. Our convertible senior notes are being concurrently offered in a separate offering in reliance on Rule 144A