01:22 PM EDT, 05/30/2025 (MT Newswires) -- GDS (GDS) said Friday that it closed a $550 million offering of 2.25% convertible senior notes due 2032, including the full exercise of an over-allotment option.

The company said it also completed an offering of 5.98 million American Depositary Shares at $24.50 per ADS, including the full exercise of an over-allotment option. Each ADS represents eight Class A shares.

GDS also said it closed a separate registered public offering of 6 million ADSs at the same price that it lent to an affiliate of an initial purchaser in the notes offering for hedging purposes.

Shares of the company were down over 7% in recent trading.

Price: 23.18, Change: -1.91, Percent Change: -7.61