iQIYI (IQ) Enters $500M Private Placement of Convertible Notes with PAG

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Go back to iQIYI (IQ) Enters $500M Private Placement of Convertible Notes with PAG

iQIYI Announces US$500 Million Private Placement of Convertible Notes with PAG

August 30, 2022 5:00 AM EDT

BEIJING, Aug. 30, 2022 /PRNewswire/ -- iQIYI, Inc. (Nasdaq: IQ) ("iQIYI" or the "Company"), an innovative market-leading online entertainment service in China, today announced that the Company has entered into a definitive agreement with PAG Asia, PAG Pegasus and/or their affiliates (collectively, the "Investors"), a leading investment firm in Asia, pursuant to which the Investors will subscribe for an aggregate amount of US$500 million convertible notes (the "Notes") to be issued by the Company. The Company has granted the... More