Zhihu Announces $54.8M Buyback of Class A Shares and ADSs

Author: Benzinga Newsdesk | September 09, 2024 05:42am

Zhihu Inc. (NYSE:ZH, HKEX: 2390))))) ("Zhihu" or the "Company"), a leading online content community in China, today announced that it has commenced all cash tender offers (the "Offers") to buy back up to 46,921,448 Class A ordinary shares of the Company (including in the form of American depositary shares (the "ADSs")) at an offer price of HK$9.11 per Class A ordinary share (equivalent of US$3.50 per ADS). Assuming that the maximum number of securities that can be accepted are tendered and accepted, the aggregate purchase price payable by the Company upon the consummation of the Offers would be approximately HK$427.5 million or US$54.8 million, excluding related transaction fees, costs, and expenses. The Offers consist of a U.S. offer (the "U.S. Offer") and a non-U.S. offer (the "Non-U.S. Offer") on equivalent terms and conditions set forth in the U.S. offer to purchase dated as of September 9, 2024 in connection with the U.S. offer (the "U.S. Offer to Purchase") and offer document dated as of the same date in connection with the non-U.S. offer, respectively. The U.S. Offer will expire at 4:00 a.m., New York City time, on Wednesday, October 30, 2024, unless extended. ADSs and Class A ordinary shares tendered pursuant to the U.S. Offer may be withdrawn at any time before 4:00 a.m., New York City time, on Wednesday, October 30, 2024, or as otherwise provided by applicable law.

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