05:38 AM EDT, 05/21/2025 (MT Newswires) -- Bilibili ( BILI ) said Wednesday it plans a $500 million offering of convertible senior notes due June 1, 2030.

The company intends to grant the initial purchasers an option to acquire up to an additional $75 million of the notes.

Bilibili ( BILI ) said it expects to use the net proceeds to "enhance" its content ecosystem, among other things.

Concurrently with the offering, a certain number of the company's class Z shares are proposed to be borrowed from third parties and offered in a separate underwritten offering by Goldman Sachs (Asia) and Morgan Stanley Asia.

Bilibili ( BILI ) said the underwriters will use the resulting short position to facilitate hedging transactions by certain investors subscribing for the notes.

The company also said it plans to buy a number of its class Z shares offered in the concurrent offering for an amount expected to be up to $100 million under its existing share repurchase program.