- Bilibili (NASDAQ:BILI) prices the previously announced of US$1,400M in aggregate principal amount of convertible senior notes due 2026.
- Underwriters have a 30-day option to purchase up to an additional $200M notes.
- .The initial conversion rate of the notes is 10.6419 ADS per US$1,000 principal amount of Notes (which is equivalent to an initial conversion price of approximately US$93.97 per ADS and represents a conversion premium of approximately 40% above the closing price of the Company’s ADSs on November 18, 2021, which was US$67.12 per ADS)
- Holders of the Notes may elect to receive Class Z ordinary shares in lieu of any ADSs deliverable upon conversion.
- The Notes will bear interest at a rate of 0.5% per year, payable semiannually in arrears on June 1 and December 1 of each year, beginning on June 1, 2022