Sea Limited Prices Public Offering Of 11 Mln American Depository Shares At $318/ADS

(RTTNews) - Sea Limited (SE) on Friday announced pricing of its public offering of 11 million American Depository Shares, each representing one Class A ordinary share, at $318 per ADS.

The company also priced its offering of $2.5 billion principal amount Convertible Notes, due 2026, at $0.25%.

Additionally, Sea Limited has granted the underwriters in the ADS Offering a 30-day option to purchase up to an additional 1.65 million ADs, and has granted the underwriters in the Notes Offering a 30-day option to purchase up to an additional $375 million aggregate principal amount of Notes.

The Offerings are expected to close on September 14, 2021.

The company said it intends to use the net proceeds from the Offerings for general corporate purposes, including potential strategic investments and acquisitions.