VNET Group Commences $~137.7M Offering Of 81M Class A Ordinary Shares At $1.7/Share

VNET Group, Inc. (Nasdaq: VNET) ("VNET" or the "Company"), a leading carrier- and cloud-neutral internet data center services provider in China, today announced a private placement of 81.0 million newly issued Class A ordinary shares of the Company ("Placement Shares") to certain institutional investors at an offering price of US$1.7 per Placement Share (or US$10.2 per ADS, each representing six Class A ordinary shares) (the "Private Placement").

The Company expects to close the Private Placement on or about March 3, 2026, subject to customary closing conditions. Gross proceeds from the Private Placement financing are anticipated to be approximately US$137.7 million before deducting placement agent fees and offering expenses.