iQIYI, Inc. Announces the Results of the Repurchase Right Offer for Its 4.00% Convertible Senior Notes due 2026
August 01 2024 - 4:35AM
iQIYI, Inc. (Nasdaq: IQ) (“iQIYI” or the “Company”), a leading
provider of online entertainment video services in China, today
announced the results of its previously announced repurchase right
offer relating to its 4.00% Convertible Senior Notes due 2026
(CUSIP No. 46267XAE8) (the “Notes”). The repurchase right offer
expired at 5:00 p.m., New York City time, on Tuesday, July 30,
2024. Based on information from Citibank, N.A. as the paying agent
for the Notes, US$395,450,000 aggregate principal amount of the
Notes were validly surrendered and not withdrawn prior to the
expiration of the repurchase right offer. The aggregate amount of
the repurchase price of these Notes (including the aggregate
principal amount of the Notes plus accrued and unpaid interest)
(the “Repurchase Price”) is US$397,471,188.84. The Company has
forwarded cash in payment of the Repurchase Price to the Paying
Agent for distribution to the Holders that had validly exercised
their repurchase right. Following settlement of the repurchase,
US$157,000 aggregate principal amount of the Notes will remain
outstanding and continue to be subject to the existing terms of the
Indenture and the Notes.
About iQIYI, Inc.
iQIYI, Inc. is a leading provider of online entertainment video
services in China. It combines creative talent with technology to
foster an environment for continuous innovation and the production
of blockbuster content. It produces, aggregates and distributes a
wide variety of professionally produced content, as well as a broad
spectrum of other video content in a variety of formats. iQIYI
distinguishes itself in the online entertainment industry by its
leading technology platform powered by advanced AI, big data
analytics and other core proprietary technologies. Over time, iQIYI
has built a massive user base and developed a diversified
monetization model including membership services, online
advertising services, content distribution, online games, IP
licensing, talent agency, online literature, etc.
For further information, please contact:
Investor RelationsiQIYI, Inc.ir@qiyi.com
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