Company: GDHLF
Filing Date: 2025-05-27
Form Type: 424B5
Source: 0001104659-25-053057
Chunk: 95

Company: GDS Holdings Ltd
Filing Date: 2025-05-27
Form: 424B5
Chunk 95
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 Lending Agreement. In addition, any purchases of ADSs and/or Class A ordinary shares in connection with the termination of any portion of the ADS Lending Agreement or otherwise may have the effect of increasing, or preventing a decline in, the market price of our ADSs and Class A ordinary shares during or following the loan unwind period. See “Risk Factors — Risks Relating to This Offering — The effect of the borrowing of our ADSs pursuant to the ADS Lending Agreement and the issuance of our ADSs

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in this offering may adversely affect the market price of our ADSs.” We are also subject to counterparty risk in the event of a default by the ADS Borrower in respect of its obligations under the ADS Lending Agreement. If the ADS Borrower becomes subject to insolvency proceedings, this may negatively affect our ability to recover any Borrowed ADSs from the ADS Borrower. See “Risk Factors — Risks Relating to This Offering — We are subject to counterparty risk with respect to the ADS Lending Agreement.”

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### DESCRIPTION OF SHARE CAPITAL
We are a Cayman Islands exempted company with limited liability and our affairs are governed by our Memorandum and Articles of Association, the Companies Act (As Revised) of the Cayman Islands, which is referred to as the Companies Act below, and the common law of the Cayman Islands.

As of the date of this prospectus supplement, our authorized share capital was US$175,100 divided into 3,502,000,000 ordinary shares of a par value of US$0.00005 each, of which 3,300,000,000 are designated as Class A ordinary shares, 200,000,000 are designated as Class B ordinary shares and 2,000,000 are designated as preferred shares. As of the date of this prospectus supplement, there are 1,440,666,711 Class A ordinary shares, 43,590,336 Class B ordinary shares and 150,000 Series A convertible preferred shares issued, fully-paid and outstanding. All of our shares issued and outstanding prior to the completion of the offering are and will be fully paid, and all of our shares to be issued in the offering will be issued as fully paid.

The following are summaries of material provisions of our Memorandum and Articles of Association and the Companies Act insofar as they relate to the