By Wendy Van Sickle
Columbus, Ohio, May 6 – Weimob Inc. priced $150 million of five-year convertible notes on Wednesday at with a coupon of 1.5% and an initial conversion premium of 13%, according to a company notice.
Credit Suisse, Morgan Stanley and CICC are the global coordinator, bookrunners and lead arrangers for the Regulation S offering.
The notes are non-callable until May 29, 2023 and then subject to a 130% hurdle.
Proceeds will be used for comprehensive research and development and for general corporate purposes.
Weimob is a software company that is based in Shanghai.
| Issuer: | Weimob Inc.
|
| Securities: | Convertible senior notes
|
| Amount: | $150 million
|
| Maturity: | May 15, 2025
|
| Bookrunners: | Credit Suisse, Morgan Stanley and CICC
|
| Coupon: | 1.5%
|
| Price: | Par
|
| Yield: | 5%
|
| Conversion premium: | 13%
|
| Conversion price: | HK$6.72
|
| Call options: | Non-callable until May 29, 2023 and then subject to a 130% hurdle
|
| Put options: | On May 15, 2023 at 106.27
|
| Pricing date: | May 6
|
| Settlement date: | May 15
|
| Distribution: | Regulation S
|
| Stock symbol: | HKG: 2013
|
| Stock price: | HK$5.95 at market close on May 6
|
| Market capitalization: | HK$13.32 billion
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