Bilibili Completes $500M Convertible Notes Offering With Equity Placement and Repurchase
Bilibili’s closing includes Tencent’s subscription for an additional US$200 million of aggregate principal Notes and the company’s repurchase of about US$200 million of shares from Tencent, both subject to independent shareholder approval at an extraordinary general meeting and customary closing conditions. Notes are convertible at the company’s option on specified terms, and a concurrent fixed-price equity placement of 33,351,660 Class Z shares at HK$115.38 was completed today.