Company: GDHLF
Filing Date: 2025-05-29
Form Type: 424B5
Source: 0001104659-25-053917
Chunk: 59

Company: GDS Holdings Ltd
Filing Date: 2025-05-29
Form: 424B5
Chunk 59
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 at all. PRC regulations on loans to, and direct investment in, PRC entities by offshore holding companies and governmental control of currency conversion may affect our ability to capitalize or otherwise fund our PRC operations. The foregoing represents our current intentions to use and allocate the net proceeds of this offering based upon our present plans and business conditions. Our management, however, will have significant flexibility and discretion to apply the net proceeds of this offering. If an unforeseen event occurs or business conditions change, we may use the proceeds of this offering differently than as described in this prospectus supplement.

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TABLE OF CONTENTS

CAPITALIZATION The following table sets forth our capitalization as of March 31, 2025: • on an actual basis; and • on an adjusted basis giving effect to both (i) our offer and sale of 41,600,000 Class A ordinary shares in the form of ADSs at the public offering price of US$24.50 per ADSs pursuant to this prospectus supplement and the receipt of the estimated net proceeds of US$123.0 million by us from this ADS offering (assuming no exercise by the underwriters of their option to purchase additional ADSs, after deducting such underwriters’ discounts and commissions and estimated offering expenses payable by us, and (ii) the offer and sale of US$500 million aggregate principal amount of convertible senior notes in the Concurrent Notes Offering and the receipt of the estimated net proceeds of US$486.1 million by us from the offering (assuming no exercise by the initial purchasers of their option to purchase additional notes), after deducting such initial purchasers’ discounts and commissions and other estimated offering expenses payable by us. You should read this table together with our consolidated financial statements and the related notes thereto included and “Item 5. Operating and Financial Review and Prospects” in our 2024 Annual Report, our unaudited condensed consolidated financial statements and the related notes included in Exhibit 99.1 to the May 27 Form 6-K, and the information under “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Exhibit 99.2 to the May 27 Form 6-K, all of which are incorporated by reference herein.

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