OneSmart Announces Private Placement of US$25 Million Convertible Notes
OneSmart International Education Group Limited ADS (ONE)
Company Research
Source: PR Newswire
SHANGHAI, Feb. 28, 2020 /PRNewswire/ -- OneSmart International Education Group Limited (NYSE: ONE) ("OneSmart" or the "Company"), a leading premium K-12 education company in China, today announced that it has entered into definitive transaction documents with Yiheng Capital Partners, L.P., an existing minority shareholder of the Company (the "Purchaser"), pursuant to which OneSmart will issue and sell convertible note in a principal amount of US$25 million to the Purchaser through private placement. The closing of such private placement is expected to occur on or around February 28, 2020. The convertible note to be issued to the Purchaser bear interest at a rate of 4.75% per year. Interest shall be payable semi-annually in arrears on each August 1 and February 1, commencing on August 1, 2020. The convertible notes will mature on February 28, 2025 unless repurchased or converted in accordance with their terms prior to such date. The Purchaser may require the Company to repurchase all
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