On March 3, 2014, ChinaCache International Holdings Ltd. ("ChinaCache" or the "Company") (Nasdaq:CCIH), the leading total solutions provider of Internet content and application delivery services in China, announced that it has signed a definitive securities purchase agreement with certain Institutional Investors (the "Institutional Investors") affiliated with one of the world's leading institutional investment management firms.
Pursuant to this agreement, the Institutional Investors will make an aggregate investment of US$55 million in ChinaCache by subscribing for 53,855,569 newly issued ordinary shares of the Company, which are represented by 3,365,973 American Depositary Shares of the Company ("ADSs"). The purchase price is US$16.34 per ADS, or US$1.02125 per ordinary share. The transaction is expected to close in March 2014, subject to satisfaction of customary closing conditions.
Han Kun advised ChinaCache on this transaction. Han Kun primarily assisted in the preparation of various transaction documents and participated in the negotiation process.
Yijun Chao, Ying (Gloria) Xu and Ching King worked on this transaction.