Weibo Corporation Announces Proposed Offering of American Depositary Shares in connection with the Delta Placement of Borrowed ADSs
Concurrently with the Notes Offering, the ADS Borrower will sell the Borrowed ADSs in a separate offering registered with the U.S. Securities and Exchange Commission (the "SEC") offered by the underwriter pursuant to a prospectus supplement and an accompanying base prospectus, as described below (the "Delta Placement of Borrowed ADSs").
- Concurrently with the Notes Offering, the ADS Borrower will sell the Borrowed ADSs in a separate offering registered with the U.S. Securities and Exchange Commission (the "SEC") offered by the underwriter pursuant to a prospectus supplement and an accompanying base prospectus, as described below (the "Delta Placement of Borrowed ADSs").
- The number of Borrowed ADSs will be determined at the time of pricing of the Delta Placement of Borrowed ADSs.
- The ADS Borrower or its affiliate will receive all of the proceeds from the sale of the Borrowed ADSs.
- If the Notes Offering is not consummated, the ADS Lending Agreement will terminate, the Delta Placement of Borrowed ADSs will terminate and all Borrowed ADSs (or ADSs fungible with Borrowed ADSs) must be returned to the Company.