- GDS Holdings Limited (NASDAQ:GDS) looked to raise $580 million via private 4.50% convertible senior notes offering due 2030.
- The conversion price of $24.50 implied a premium of 2.6% to the January 10 closing of $23.89. It indicated a premium of 16.7% to the volume-weighted average price of GDS ADSs traded on NASDAQ for the 25 trading days immediately preceding the signing date.
- The notes will be convertible into ADSs at the option of the holders.
- The leading developer and operator of high-performance data centers in China looked to utilize the offering proceeds for developing and acquiring new data centers, general corporate purposes, and working capital needs.
- GDS held $5.1 billion in long-term debt and $1.28 billion in cash and equivalents as of September 30.
- Price Action: GDS shares traded lower by 8.66% at $21.82 in the premarket on the last check Wednesday.
ToughBuilt Industries Announces Expansion Of Trade Partnerships With Switzerland’s Largest Tool Wholesale Groups, Steinemann AG And Tegro AG
IRVINE, Calif., Sept. 22, 2022 (GLOBE NEWSWIRE) -- ToughBuilt Industries, Inc. ("ToughBuilt") (NASDAQ:TBLT, TBLTW)))), today announced the Company has entered an agreement with two major wholesale tool
