Weimob eyes repurchase of 0% guaranteed convertibles due 2026

By William Gullotti

Lexington, Ky., April 18 – Weimob Inc. is proposing to repurchase the remaining $201,217,000 of its $300 million zero-coupon guaranteed convertible bonds due 2026 (ISIN: XS2324754980), according to an announcement on Thursday.

Merrill Lynch (Asia Pacific) Ltd. is the dealer manager for the proposed buyback.

The Regulation S convertibles were originally issued by wholly owned subsidiary Weimob Investment Ltd. on June 8, 2021 and are not callable or putable until June 2024. The call option will become exercisable starting June 21, subject to a 130% hurdle. The put option will become exercisable starting June 7.

Weimob is a Shanghai-based cloud-based commerce and marketing solutions provider.

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