Bilibili (BILI) said Friday that it completed its offering of $690 million in convertible senior notes due 2030, which includes the full exercise of the initial purchasers' option to buy an additional $90 million in notes.
The company said it also finalized a concurrent underwritten offering of 10.3 million borrowed Class Z ordinary shares.
The notes bear interest at 0.625% annually and mature on June 1, 2030, the company said, adding that they are convertible into Class Z shares at an initial rate of 42.1747 shares per $1,000 of notes-about 32.5% above the concurrent offering price of 140.10 Hong Kong dollars ($17.8).
Bilibili said it plans to use proceeds to expand its content ecosystem, drive user growth, develop IP assets, support monetization efforts, and fund repurchase programs.
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