BEIJING, June 29, 2020 /PRNewswire/ -- Weibo Corporation
("Weibo" or the "Company") (Nasdaq: WB), a leading social media in
China, today announced that it has
filed a preliminary prospectus supplement with the United States
Securities and Exchange Commission (the "SEC") under an automatic
shelf registration statement on Form F-3, pursuant to which the
Company proposes to sell senior notes. 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-manager of
the offering is China International Capital Corporation Hong Kong
Securities Limited.
This announcement is not an offer of the securities for sale in
the United States. Any public
offering of these securities in the
United States will be made by means of a prospectus that
contains detailed information about the issuer, which prospectus
may be obtained free of charge from EDGAR on the SEC website at
www.sec.gov. Alternatively, the Company, any underwriter, or any
dealer participating in the offering will arrange to send an
investor the prospectus if the investor requests it by calling
Goldman, Sachs & Co. toll-free at +1 (866) 471-2526. A
registration statement relating to these securities has been filed
with the SEC and has become effective under the U.S. Securities Act
of 1933.
This announcement 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 jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such 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