KINGSOFT CLOUD plans to offer 282 million shares of common stock to non-U.S. persons through offshore transactions outside the United States
KINGSOFT CLOUD plans to offer 282 million shares of common stock to non-U.S. persons outside the United States on September 23, 2025, in accordance with Regulation S of the U.S. Securities Act of 1933. This placement will be subject to market conditions and other factors. The company expects that by December 31, 2028, 80% of the proceeds from the placement will be used to support its artificial intelligence business, and 20% will be used to supplement working capital and for other purposes
According to the Zhitong Finance APP, Kingsoft Cloud (03896) announced that on September 23, 2025, the board of directors plans to offer 282 million shares of the company's ordinary shares to non-U.S. persons through offshore transactions under Regulation S of the U.S. Securities Act of 1933 (as amended), subject to market conditions and other factors.
The company currently plans to use the net proceeds from the placement by December 31, 2028, as follows: 80% of the proceeds will be used to support artificial intelligence business, including expanding infrastructure and enhancing cloud service capabilities, and 20% of the proceeds will be used to supplement working capital and for other corporate purposes
