iQIYI, Inc. Offers Repurchase Right for Convertible Senior Notes due 2026
At the beginning of the article, the commonly searched keywords include iQIYI, Inc., Repurchase Right, Convertible Senior Notes, 2026, and China.
iQIYI, Inc., a prominent provider of online entertainment video services in China, has recently announced a significant development regarding its 4.00% Convertible Senior Notes due 2026. The company has notified holders of these Notes about the Repurchase Right, allowing them to require iQIYI to repurchase their Notes in cash on August 1, 2024. The Repurchase Right period will begin on July 2, 2024, and end on July 30, 2024. Holders have the option to demand the repurchase of all or a portion of their Notes that is an integral multiple of US$1,000 principal amount. The repurchase price will include the principal amount of the Notes and any accrued and unpaid interest up to August 1, 2024.
Details of the Repurchase Right for iQIYI, Inc.
During the Repurchase Right period, which starts on July 2, 2024, holders of the Notes can exercise their right to demand the repurchase of their Notes. The repurchase price will be calculated based on the principal amount of the Notes and accrued interest until the specified repurchase date of August 1, 2024. Holders must follow the transmittal procedures outlined in the Repurchase Right Notice provided by iQIYI. Withdrawal of previously tendered Notes is possible before July 30, 2024, the business day preceding the repurchase date.
About iQIYI, Inc.
iQIYI, Inc. is known for its leading online entertainment video services in China, offering a wide range of professionally produced and user-generated content. The company combines creative talent with advanced technology to innovate continuously and provide blockbuster content to its massive user base. With a diversified monetization model, including membership services, online advertising, and content distribution, iQIYI remains a key player in the online entertainment industry.
In conclusion, iQIYI, Inc. has announced a Repurchase Right for its 4.00% Convertible Senior Notes due 2026, allowing holders to demand the repurchase of their Notes for cash. This opportunity presents a significant financial decision for investors and underscores iQIYI’s commitment to proactive financial management and investor relations.
