BEIJING, China, June 26, 2019 /PRNewswire/ -- Weibo Corporation
("Weibo" or the "Company") (Nasdaq: WB), a leading social media in
China, today announced the pricing
of its public offering of US$800
million aggregate principal amount of its 3.500% notes due
2024. The notes have been registered under the U.S. Securities Act
of 1933, as amended, and are expected to be listed on the Singapore
Exchange Securities Trading Limited. The Company expects to receive
net proceeds from the offering of approximately US$793 million, after deducting underwriting
discounts and commissions and estimated offering expenses. The
Company intends to use the net proceeds from the offering for
general corporate purposes.
The sole bookrunner of the offering is Goldman Sachs
(Asia) L.L.C. The co-managers of
the offering are The Hongkong and Shanghai Banking Corporation
Limited and Industrial and Commercial Bank of China (Asia)
Limited.
The Company has filed an automatic shelf registration statement
on Form F-3 (including a base prospectus) and a related preliminary
prospectus supplement with the U.S. Securities and Exchange
Commission (the "SEC") for the offering of the notes. When
available, the final prospectus supplement for the offering of the
notes will be filed with the SEC. The offering is being made only
by means of the prospectus supplement and accompanying base
prospectus. Before you invest, you should read the prospectus
supplement and accompanying base prospectus and other documents
that the Company has filed with the SEC for more complete
information about the Company and the offering. You may obtain
these documents free of charge by visiting EDGAR on the SEC website
at www.sec.gov. Alternatively, the Company or any
underwriter or dealer participating in the offering will arrange to
send an investor the prospectus supplement and accompanying base
prospectus if the investor makes such request by calling Goldman
Sachs & Co. toll-free at +1 (866) 471-2526.
This announcement is not an offer of the securities for sale in
the United States and shall not
constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of, these securities in any state or
jurisdiction in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. The securities
referred to herein have not been and will not be registered under
the applicable securities laws of any jurisdiction outside of
the United States.
About Weibo
Weibo is a leading social media for people to create, share, and
discover content online. Weibo combines the means of public
self-expression in real time with a powerful platform for social
interaction, content aggregation, and content distribution. Any
user can create and post a feed and attach multi-media and
long-form content. User relationships on Weibo may be asymmetric;
any user can follow any other user and add comments to a feed while
reposting. This simple, asymmetric, and distributed nature of Weibo
allows an original feed to become a live viral conversation
stream.
Weibo enables its advertising and marketing customers to promote
their brands, products, and services to users. Weibo offers a wide
range of advertising and marketing solutions to companies of all
sizes. The Company generates a substantial majority of its revenues
from the sale of advertising and marketing services, including the
sale of social display advertisement and promoted marketing
offerings. Designed with a "mobile first" philosophy, Weibo
displays content in a simple information feed format and offers
native advertisement that conform to the information feed on our
platform. To support the mobile format, Weibo has developed and is
continuously refining its social interest graph recommendation
engine, which enables its customers to perform people marketing and
target audiences based on user demographics, social relationships,
interests, and behaviors, to achieve greater relevance, engagement,
and marketing effectiveness.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident," and similar statements. Among
other things, the description of the proposed offering in this
announcement contains forward-looking statements. Weibo may also
make forward-looking statements in its periodic reports to the SEC,
in press releases and other written materials, and in oral
statements made by its officers, directors, or employees to third
parties. Forward-looking statements involve inherent risks and
uncertainties. A number of important factors could cause actual
results to differ materially from those contained in any
forward-looking statement. Potential risks and uncertainties
include, but are not limited to, Weibo's limited operating history
in certain new businesses; failure to grow active user base and the
level of user engagement; the uncertain regulatory landscape in
China; fluctuations in the
Company's quarterly operating results; the Company's reliance on
advertising and marketing sales for a majority of its revenues;
failure to successfully develop, introduce, drive adoption of or
monetize new features and products; failure to compete effectively
for advertising and marketing spending; failure to successfully
integrate acquired businesses; risks associated with the Company's
investments, including equity pick-up and impairment; failure to
compete successfully against new entrants and established industry
competitors; changes in the macro-economic environment, including
the depreciation of the Renminbi; and adverse changes in economic
and political policies of the PRC government and its impact on the
Chinese economy. Further information regarding these and other
risks is included in Weibo's annual report on Form 20-F,
registration statement on Form F-3, and other documents filed with
or furnished to the SEC. All information provided in this press
release is current as of the date hereof, and Weibo assumes no
obligation to update such information, except as required under
applicable law.
Contacts
Investor Relations
Weibo Corporation
Phone: +86 (10) 5898-3336
Email: ir@staff.weibo.com
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SOURCE Weibo Corporation