BEIJING, Feb. 5, 2024
/PRNewswire/ -- VNET Group, Inc. (Nasdaq: VNET) ("VNET" or the
"Company"), a leading carrier- and cloud-neutral internet data
center services provider in China,
today announced the completion of its previously announced
repurchase right offer relating to its 0.00% Convertible Senior
Notes due 2026 (CUSIP No. 90138V AB3) (the "Notes"). The repurchase
right offer expired at 5:00 p.m.
(New York City time) on
Tuesday, January 30, 2024. Based on
information from Citibank, N.A. as the paying agent for the Notes,
US$600,000,000 aggregate principal
amount of the Notes were validly surrendered and not withdrawn
prior to the expiration of the repurchase right offer. The
aggregate cash purchase price of these Notes is US$600,000,000. The Company has completed the
payment of the Repurchase Price to the relevant Holders whose Notes
were surrendered and accepted for repurchase and such Notes have
been successfully canceled. As of February
2, 2024, there are no outstanding Notes.
Mr. Josh Sheng Chen, Founder and
Co-Chairperson of VNET, commented, "Long-termism is a cornerstone of VNET's
vision. Our successful completion of the convertible senior notes
repurchase demonstrates our commitment to high-quality, long-term
development as well as our strong strategic execution. Moving
forward, we will continue to pursue sustainable growth fostering
prosperity for the Company and creating value for all of our
stakeholders."
Mr. Jianbiao Zhu, Chief Executive Officer of Shandong
Hi-Speed Holdings Group Limited ("SDHG") and Co-Chairperson of
VNET, added, "As a state-holding enterprise, SDHG shares VNET's
dedication to long-term sustainable development. We view the
convertible senior notes repurchase as a pivotal step towards the
Company's robust future and remain confident in VNET's value
proposition and growth potential in the long run."
About VNET
VNET Group, Inc. is a leading carrier- and cloud-neutral
internet data center services provider in China. VNET provides hosting and related
services, including IDC services, cloud services, and business VPN
services to improve the reliability, security, and speed of its
customers' internet infrastructure. Customers may locate their
servers and equipment in VNET's data centers and connect to
China's internet backbone. VNET
operates in more than 30 cities throughout China, servicing a diversified and loyal base
of over 7,000 hosting and related enterprise customers that span
numerous industries ranging from internet companies to government
entities and blue-chip enterprises to small- to mid-sized
enterprises.
Safe Harbor Statement
This announcement contains forward-looking statements. These
forward-looking statements are made under the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"target," "believes," "estimates" and similar statements. Among
other things, quotations from management in this announcement as
well as VNET's strategic and operational plans contain
forward-looking statements. VNET may also make written or oral
forward-looking statements in its reports filed with, or furnished
to, the U.S. Securities and Exchange Commission, in its annual
reports to shareholders, in press releases and other written
materials and in oral statements made by its officers, directors or
employees to third parties. Statements that are not historical
facts, including statements about VNET's beliefs and expectations,
are forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the
following: VNET's goals and strategies; VNET's liquidity
conditions; VNET's expansion plans; the expected growth of the data
center services market; expectations regarding demand for, and
market acceptance of, VNET's services; VNET's expectations
regarding keeping and strengthening its relationships with
customers; VNET's plans to invest in research and development to
enhance its solution and service offerings; and general economic
and business conditions in the regions where VNET provides
solutions and services. Further information regarding these and
other risks is included in VNET's reports filed with, or furnished
to, the U.S. Securities and Exchange Commission. All information
provided in this press release is as of the date of this press
release, and VNET undertakes no duty to update such information,
except as required under applicable law.
Investor Relations Contact:
Xinyuan Liu
Tel: +86 10 8456 2121
Email: ir@vnet.com
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SOURCE VNET Group, Inc.
