VNET Group, Inc. announced a private placement of 81.0 million Class A ordinary shares at US$1.7 per share (US$10.2 per ADS), expecting gross proceeds of approximately US$137.7 million before fees. The Company intends to use proceeds for general corporate purposes including working capital, capital expenditures, and potential strategic transactions, with closing expected on or about March 3, 2026.
Key takeaways
Private placement of 81.0 million newly issued Class A ordinary shares
Offering price: US$1.7 per Placement Share (US$10.2 per ADS)
Gross proceeds anticipated: US$137.7 million before fees
Expected closing: on or about March 3, 2026
Placement agents: Deutsche Bank AG, Hong Kong Branch and China International Capital Corporation Hong Kong Securities Limited
Use of proceeds: general corporate purposes, working capital, capital expenditures, potential strategic transactions