GDS Holdings has entered into a Series B Preferred Share Subscription Agreement with multiple strategic investors, including HGDC Holdings, Baupost Group, Coatue Tactical Solutions, and several other institutional investors. The shares are priced at US$17.50 per share, implying a pre-money valuation of US$2.49 billion for the company.The agreement includes comprehensive investor protections and governance rights. Shareholders holding 7.5% or more will receive board representation, while those with 5% or more will get observer rights. The founder maintains board representation rights with 1% ownership. Additional investor protections include conversion rights, preemptive rights, tag-along rights, and post-IPO registration rights.The transaction is structured with flexibility for additional Series B issuance and will be governed under Hong Kong law with HKIAC arbitration provisions. The completion of the deal remains subject to customary closing conditions and regulatory approvals.

GDS Holdings has entered into a Series B Preferred Share Subscription Agreement with multiple strategic investors, including HGDC Holdings, Baupost Group, Coatue Tactical Solutions, and several other institutional investors. The shares are priced at US$17.50 per share, implying a pre-money valuation of US$2.49 billion for the company.The agreement includes comprehensive investor protections and governance rights. Shareholders holding 7.5% or more will receive board representation, while those with 5% or more will get observer rights. The founder maintains board representation rights with 1% ownership. Additional investor protections include conversion rights, preemptive rights, tag-along rights, and post-IPO registration rights.The transaction is structured with flexibility for additional Series B issuance and will be governed under Hong Kong law with HKIAC arbitration provisions. The completion of the deal remains subject to customary closing conditions and regulatory approvals.