BEIJING, Jan. 19,
2023 /PRNewswire/
-- iQIYI, Inc. (Nasdaq: IQ) ("iQIYI" or
the "Company"), a leading provider of online entertainment video
services in China, today announced
the closing of the previously disclosed underwritten public
offering (the "Offering") of 76,500,000 American Depositary Shares
of the Company (the "ADSs"), at a public offering price of
US$5.90 per ADS. The Company had
granted the underwriters a 30-day option to purchase up to an
aggregate of 11,475,000 additional
ADSs. The net proceeds of the Offering
(after deducting underwriting commissions) amounted
to US$442.3 million, assuming the underwriters do not
exercise the option to purchase additional ADSs.
BofA Securities, Inc., Goldman Sachs (Asia) L.L.C. and J.P. Morgan Securities LLC acted as the joint Bookrunners for the Offering.
The Offering was made pursuant to an effective shelf
registration statement on Form F-3 filed with the U.S. Securities
and Exchange Commission (the "SEC"), which is available on the
SEC's website at www.sec.gov. The Offering was made by means
of a prospectus supplement and an accompanying prospectus included
in the Form F-3. The Form F-3 and the prospectus supplement are
available on the SEC's website at www.sec.gov.
Copies of the prospectus supplement and the accompanying prospectus related to the Offering
may also be obtained by contacting BofA
Securities, Inc. toll-free at 1-800-294-1322,
Goldman Sachs & Co. LLC toll-free at 1-866-471-2526, or J.P. Morgan Securities LLC toll-free at 1-866-803-9204.
This press release shall not constitute an offer to sell or a
solicitation of an offer to purchase any securities, nor shall
there be a sale of the securities in any state or jurisdiction in
which such an offer, solicitation or sale would be unlawful.
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. The Company
distinguishes itself in the online entertainment industry by its
leading technology platform powered by advanced AI, big data
analytics and other core proprietary technologies. iQIYI attracts a
daily subscriber base of more than 100 million, and its diversified
monetization model includes membership services, online advertising
services, content distribution, online games, IP licensing, talent
agency, online literature, etc.
For more information, please contact:
Investor Relations
iQIYI, Inc.
ir@qiyi.com
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SOURCE iQIYI, Inc.