Benzinga -
- Bilibili Inc (NASDAQ: BILI) priced 15.34 million American depositary shares at $26.65 per ADS (or $408.9 million) to repay $384.8 million of its outstanding 0.50% convertible senior notes due December 2026.
- The offer price implied a 7% discount to Bilibili's January 6 closing price of $28.65
- Bilibili's shares were worth $439.6 million based on the January 6 closing price.
- Also Read: Bilibili Lets Go Of 30% Staff As Slowdown Hurts Operations
- Goldman Sachs (NYSE:GS) will use the offering proceeds to fund the aggregate purchase price of the exchange notes payable by Goldman Sachs.
- Concurrently with the offering, Goldman Sachs plans to enter into separate and individually negotiated agreements to purchase the exchange notes for cash.
- Bilibili held $1.73 billion in long-term debt and $0.77 billion in cash and equivalents as of September 30.
- Price Action: BILI shares traded lower by 5.78% at $27 on the last check Monday.
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