Summary by Moomoo AI
GDS Holdings Limited announced that its international subsidiary DigitalLand Holdings Limited (GDSI) has revised the B round convertible preferred stock issuance agreement, increasing the financing scale from 1 billion USD to 1.2 billion USD, while maintaining the pre-investment valuation unchanged. The new investment primarily comes from well-known investors, including the SoftBank Vision Fund and Citadel CEO Kenneth Griffin. The B round financing is expected to complete its delivery by the end of 2024.Once the trade is completed, GDS Holdings will hold approximately 35.6% of GDSI's ordinary share equity (calculated on a fully diluted basis). This financing expansion reflects investors' confidence in GDSI's business prospects and is expected to provide the company with more funds to support its expansion plans in the international market. However, the company reminds investors to be aware of the potential risks brought about by its different voting rights structure, including the possibility that the interests of different voting rights beneficiaries may not align with the overall interests of shareholders.