Company: GDHLF
Filing Date: 2025-05-27
Form Type: 424B5
Source: 0001104659-25-053057
Chunk: 81

Company: GDS Holdings Ltd
Filing Date: 2025-05-27
Form: 424B5
Chunk 81
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 thereon (whether or not declared), and (ii) the payment such holders would have received had such holders, immediately prior to such liquidation, converted their convertible preferred shares into Class A ordinary shares (at the then applicable conversion rate).

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TABLE OF CONTENTS

Our board of directors is authorized to issue additional classes or series of preferred stock without any action on the part of the shareholders. The board of directors also has the power, without shareholder approval, to set the terms of any such classes or series of preferred stock that may be issued, including voting rights, dividend rights, and preferences over our ADSs with respect to dividends or upon our dissolution, winding-up and liquidation and other terms. If we issue preferred stock in the future that has a preference over our ADSs with respect to the payment of dividends or upon our liquidation, dissolution, or winding up, or if we issue preferred stock with voting rights that dilute the voting power of our ADSs, the rights of holders of our ADSs or the market price of our ADSs could be adversely affected.

You must rely on the judgment of our management as to the use of the net proceeds from the offering of Primary ADSs, and such use may not produce income or increase the price of our ADS.

We expect to use the net proceeds from the offering of Primary ADSs for general corporate purposes, working capital needs and the refinancing of our existing indebtedness, including reserving amounts for possible future negotiated repurchases of, or for redemption upon exercise of the investor put right, of our convertible bonds due 2029. Our management will have considerable discretion in the application of the net proceeds received by us. You will not have the opportunity, as part of your investment decision, to assess whether proceeds are being used appropriately. The net proceeds may be used for corporate purposes that do not improve our efforts to achieve or maintain profitability or increase the price of our ADS. The net proceeds from this offering may be placed in investments that do not produce income or that lose value.

Changes in the accounting guidelines relating to the Borrowed ADS could decrease our earnings per ADS and potentially the price of our ADS.

The ADS Borrower is hereby offering ADSs, which are being borrowed pursuant to the ADS Lending Agreement by the ADS Borrower, and its affiliate is acting as the underwriter in this offering. The ADS Borrower and its affiliates will receive all of the proceeds from the sale of the Borrowed ADSs. We will not receive