Company: GDHLF
Filing Date: 2025-05-29
Form Type: 424B5
Source: 0001104659-25-053912
Chunk: 38

Company: GDS Holdings Ltd
Filing Date: 2025-05-29
Form: 424B5
Chunk 38
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 issued remains outstanding at such time (a “Cleanup Redemption”). The Notes will not be redeemable before June 6, 2029, except in connection with a Tax Redemption or Cleanup Redemption. On or after June 6, 2029 and on or prior to the 40th scheduled trading day immediately prior to the maturity date, the convertible senior notes will be redeemable, in whole or in part, for cash at our option at any time, and from time to time, subject to certain conditions, if the last reported sale price of the ADSs has been at least 130% of the conversion price then in effect on (i) each of at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period ending on, and including, the trading day immediately prior to the date we provide a notice of redemption and (ii) the trading day immediately preceding the date we send such notice (such redemption, an “Optional Redemption”). The redemption price in the case of a Tax Redemption, Cleanup Redemption or an Optional Redemption will equal 100% of the principal amount of the convertible senior notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the related redemption date. Holders of the convertible senior notes may require us to repurchase for cash all or part of their convertible senior notes on June 1, 2029. In addition, holders of the convertible senior notes have the option, subject to certain conditions, to require us to repurchase any convertible senior notes held in the event of a “fundamental change” (as will be defined in the indenture for the convertible senior notes). The repurchase price, in each case, will be equal to 100% of the principal amount of the convertible senior notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the applicable repurchase date. In addition, following certain corporate events that occur prior to the maturity date or following our delivery of a notice of redemption, we will, in certain circumstances, increase the conversion rate for a holder who elects to convert its convertible senior notes in connection with such a corporate event or such notice of redemption, as the case may be. Neither this prospectus supplement nor the accompanying prospectus is an offer in respect of our convertible senior notes.

Concurrently with this offering and the Concurrent Notes Offering, we are offering 5,200,000 Primary ADSs. We have granted the underwriters in the Concurrent Primary ADS Offering a