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VNET Announces Certain Updates Regarding the Refinancing of the Founder’s Personal Loan

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BEIJING, July 8, 2024 /PRNewswire/ — VNET Group, Inc. (Nasdaq: VNET) (“VNET” or the “Company”), a leading carrier- and cloud-neutral internet data center services provider in China, today announced the refinancing of the margin loan facility provided by Bold Ally (Cayman) Limited (the “Bold Ally Loan”) to Mr. Josh Sheng Chen (“Mr. Chen”), Founder, Co-Chairperson and interim Chief Executive Officer of VNET. The Bold Ally Loan was procured by Mr. Chen in or around August 2021 to finance his purchase of 17,140,898 Class A ordinary shares from another significant shareholder at the time, and was secured by the ordinary shares beneficially owned by Mr. Chen in the Company.

With reference to the Amendment No. 8 to the Schedule 13D filing dated July 8, 2024 filed by Mr. Chen (the “Schedule 13D Amendment”), Mr. Chen and various entities wholly owned by him (the “Corporate Obligors”) have settled all of their obligations under the Bold Ally Loan. The settlement was funded using proceeds generated from the issuance of a promissory note (the “Note”) to Shining Rich Holdings Limited and the existing cash reserves of Mr. Chen.  

As a result of the settlement of the Bold Ally Loan, the collateral for the Bold Ally Loan has been released in full pursuant to a deed of undertaking as disclosed in the Schedule 13D Amendment, and Mr. Chen has restored his beneficial ownership interest in 33,628,926 Class A ordinary shares of the Company, the ownership of which was previously transferred to Bold Ally (Cayman) Limited.

The Note is secured by 68,373,133 Class A ordinary shares and 27,757,992 Class B ordinary shares beneficially owned by Mr. Chen and the Corporate Obligors, representing in the aggregate approximately 6.00% of the issued and outstanding share capital and 18.41% of the total voting power in the Company as of the date of the Schedule 13D Amendment.

Mr. Chen and the Corporate Obligors have also made various undertakings with respect to the shares of the Company. These undertakings include procuring the Company not to issue or grant, in any financial year, equity securities (including rights to acquire shares) representing 5% or more of the total issued and outstanding capital of the Company (on a fully-diluted basis) to any person, including Mr. Chen and the Corporate Obligors themselves, subject to exceptions. Details of such undertakings are set forth in the Schedule 13D Amendment.

Considering the voting power owned by Mr. Chen, his veto rights over certain corporate actions through his beneficial ownership of 60,000 class C ordinary shares and his executive powers as co-Chairperson and interim Chief Executive Officer of the Company, Mr. Chen holds significant power to direct or influence the management and policies of the Company as a controlling person.

About VNET

VNET Group, Inc. is a leading carrier- and cloud-neutral internet data center services provider in China. VNET provides hosting and related services, including IDC services, cloud services, and business VPN services to improve the reliability, security, and speed of its customers’ internet infrastructure. Customers may locate their servers and equipment in VNET’s data centers and connect to China’s internet backbone. VNET operates in more than 30 cities throughout China, servicing a diversified and loyal base of over 7,500 hosting and related enterprise customers that span numerous industries ranging from internet companies to government entities and blue-chip enterprises to small- to mid-sized enterprises.

Safe Harbor Statement 

This announcement contains forward-looking statements. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “target,” “believes,” “estimates” and similar statements. Among other things, quotations from management in this announcement as well as VNET’s strategic and operational plans contain forward-looking statements. VNET may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about beliefs and expectations on the future performance of VNET, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: VNET’s goals and strategies; VNET’s liquidity conditions; VNET’s expansion plans; the expected growth of the data center services market; expectations regarding demand for, and market acceptance of, VNET’s services; VNET’s expectations regarding keeping and strengthening its relationships with customers; VNET’s plans to invest in research and development to enhance its solution and service offerings; and general economic and business conditions in the regions where VNET provides solutions and services. Further information regarding these and other risks is included in VNET’s reports filed with, or furnished to, the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and VNET undertakes no duty to update such information, except as required under applicable law.

Investor Relations Contact:

Xinyuan Liu
Tel: +86 10 8456 2121
Email: ir@vnet.com 

View original content:https://www.prnewswire.com/news-releases/vnet-announces-certain-updates-regarding-the-refinancing-of-the-founders-personal-loan-302190783.html

SOURCE VNET Group, Inc.

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AG Touring & Mammoth Live Expands Rod Wave’s “Last Lap” Tour with Second Leg

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January 8, 2025

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“Last Lap” Tour Features Special Guests, Including MoneyBagg Yo, Toosii, Lil Poppa, Dess Dior, and Eelmatic

Rod Wave Announces Second Leg of Sold-Out ‘Last Lap’ Tour

ATLANTA, Jan. 8, 2025 /PRNewswire/ — AG Touring & Mammoth Live are excited to announce the highly anticipated second leg of Rod Wave’s critically acclaimed ‘Last Lap’ tour. Following a triumphant sold-out first leg, the 19-city extension kicked off on January 5 in Sacramento, CA, and will continue through February 25, concluding in Greensboro, NC.

Rod Wave, celebrated for his emotionally raw lyricism and soulful delivery, has solidified his position as one of today’s most influential voices in hip-hop and R&B. Joining him on this extended journey are powerhouse support acts Moneybagg Yo, Toosii, Lil Poppa, Dess Dior, and Eelmatic, ensuring fans an unforgettable concert experience.

The first leg of the ‘Last Lap’ tour received glowing praise from fans and media alike:

St. Louis American: “A Vibe.”Dallas Observer: “Rod Wave’s ‘Last Lap Tour’ Delivers an Experience to Last a Lifetime.”South Florida Insider: “Rod Wave’s Last Lap tour was straight fire, and the final show at the Amerant Bank Arena in Sunrise, Florida, was everything a fan could’ve hoped for.”

With chart-topping hits and deeply resonant storytelling, Rod Wave continues to captivate audiences across the nation. Don’t miss your chance to witness the ‘Last Lap’ tour live in 2025.

For ticket information and the latest updates, visit here.

Stay tuned for more updates on Rod Wave, and listen to his latest project, Last Lap, here.

Rod Wave – Last Lap Tour Dates (Second Leg)

Sunday, January 5                                                     

Sacramento

Monday, January 6                                                   

Oakland

Wednesday, January 8                                           

Inglewood, CA

Monday, January 13                                                 

Denver, CO

Wednesday, January 15                                       

Austin, TX

Saturday, January 18                                                                    

Dallas, TX

Monday, January 20                                                 

Lafayette, LA

Tuesday, January 28                                                 

Nashville, TN

Saturday, February 1                                                                      

Detroit, MI

Tuesday, February 4                                                 

Milwaukee, WI

Thursday, February 6                                               

Indianapolis, IN

Monday, February 10                                             

Chicago, IL

Wednesday, February 12                                     

Pittsburgh, PA

Friday, February 14                                                 

Brooklyn, NY

Sunday, February 16                                                                      

Newark, NJ

Tuesday, February 18                                             

Louisville, KY

Thursday, February 20                                           

Cleveland, OH

Saturday, February 22                                           

Charlottsville, VA

Tuesday, February 25                                             

Greensboro, NC

About Rod Wave
Blessed with a special singing voice and an uncanny gift for songwriting, Florida’s Rod Wave is taking his own path to the top of the game. The St. Petersburg native, who has amassed over 21 billion streams to date, joined Taylor Swift as the only 2 artists to top the Billboard albums chart between 2021-2023. Rod’s last album, Nostalgia, topped the chart 2 weeks in a row and cemented his status as one of the pioneers of “pain music.” He first erupted onto the scene with the viral 4x-platinum “Heart On Ice,” which culminated a prolific run of 3 full-length projects in a 12 month span. His debut album, Pray 4 Love, was certified platinum within a year of release, propelled by the TikTok crossover moment “Rags2Riches,” and the follow up, SoulFly, became Rod’s first-ever #1 Billboard charting album. Known for his fiercely loyal fanbase, Rod’s extensive touring history includes 2 consecutive nationwide arena tours, grossing tens of millions of dollars on the road.

About Grizzly Touring
Grizzly Touring is the result of a powerful collaboration between AG Touring, Mammoth, and CTS Eventim, combining their unique strengths to create a dynamic force in the live event industry. AG Touring, based in Atlanta, Georgia, brings extensive expertise in club and tour promotions, with a proven track record of quality business practices, innovative marketing strategies, and an acute eye for talent that resonates with audiences. Since its launch in 2006, Mammoth has made its mark producing a wide range of events, from national tours to major festivals, with offices across the U.S. in Lawrence, Kansas City, New York, Los Angeles, and the Pacific Northwest. CTS Eventim, holding a majority stake in both companies, enhances the partnership by providing access to its vast global network, offering world-class expertise in live events, ticketing services, and logistical support. This collaboration further strengthens Eventim Live’s presence in the U.S. market, aligning AG Entertainment’s marketing acumen with Mammoth’s production capabilities, and leveraging Eventim’s international reach to bring top-tier tours and events to American audiences and beyond. Together, they form Grizzly Touring, a powerhouse in live entertainment poised to redefine the concert and festival experience on a global scale.

Follow Rod Wave
INSTAGRAM
FACEBOOK
TWITTER
TIKTOK
YOUTUBE

Grizzly Touring Contact:
Tresa Sanders, Tremedia @ tresa@tre-media.net
Hajji McQueen, Tremedia @ publicity@tre-media.net

Rod Wave Publicity contact:
Dharmic Jain, Alamo Records @ dharmic@alamo-records.com
Gabe Tesoriero  @ GT@screamingtarget.co 

View original content to download multimedia:https://www.prnewswire.com/news-releases/ag-touring–mammoth-live-expands-rod-waves-last-lap-tour-with-second-leg-302346335.html

SOURCE AG Entertainment

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XbotPark Showcases Over 30 Incubated Hardware Startups at CES 2025

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January 8, 2025

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LAS VEGAS, Jan. 8, 2025 /PRNewswire/ — XbotPark, a leading startup incubator specializing in robotics and smart hardware, debuted over 30 incubated startups and its supply chain platform at CES 2025. This milestone demonstrates its commitment to supporting hardware innovators, entrepreneurs and startups in realizing their idea from concept to commercialization.

“This marks the first time XbotPark has brought its esteemed incubatees together at CES to demonstrate their cutting-edge smart devices,” stated Zexiang Li, founder of XbotPark and professor at HKUST. “XbotPark offers emerging entrepreneurs a full range of resources, including comprehensive mentorship program, robust supply chain solutions, funding and other support to help them thrive.”

Embracing a Global Vision From the Beginning

At CES 2025, XbotPark presented a diverse portfolio of groundbreaking projects, reflecting its deep understanding of user needs and the seamless integration of smart technology into daily life. Highlights included:

PETPA Multi-Pet Feeder: A CES 2025 Innovation Award Honoree, revolutionizing feeding time for multi-pet households.LOOI Robot: Transforming smartphones into desktop robots.SPARKY: A bionically-inspired robot dog offering flexibility, open-source design, and enhanced play possibilities.Lissome R1: Utilizing the world’s first jet sweeping technology to wash and dry dishes in 15 minutes.RheoFit A1: The world’s first intelligent rolling massage device.FLY WING: A hyper-realistic cockpit equipped with a movable joystick, attitude indicator, and VR head-tracking technology.LiberLive: The world’s first stringless smart guitar.Roamate: The world’s lightest multifunctional mobility aid.

A History of Success

Since its founding in 2014, XbotPark has successfully incubated over 80 companies, including six unicorns valued at $1 billion or more, such as NARWAL, HAI ROBOTICS, CiDi, EcoFlow.

“Historically, Chinese products prioritized the domestic market before global expansion. Today, our startups are designing products for global audience from the very beginning, incorporating a deep understanding of regional consumer needs,” explained XbotPark founder, Professor Zexiang Li. He emphasized the significance of CES as a platform for startups: “While Narwal and EcoFlow were already well-known in China, CES played a crucial role in their global recognition. This year, we are empowering more startups to leverage CES to connect with customers, gain media exposure, and propel themselves to the forefront of their industries.”

Removing Barriers to Turn Dreams into Reality

XbotPark has cultivated a robust ecosystem designed to empower early-stage entrepreneurs to overcome the key challenges of “product definition” and “mass production” in their entrepreneurial journeys.

Leveraging its network of bases across China, XbotPark offers mentorship programs to guide early-stage founders in developing user-oriented mindsets, refining product definitions, and strategizing development and prototyping.

In addition, XbotPark offers XCM (XbotPark Collaborative Manufacture), a one-stop manufacturing solution powered by a network of over 100 supply chain partners.

“XbotPark empowers startups to develop truly original products that often define entirely new categories, pushing the boundaries of technological complexity,” said Professor Zexiang Li. “This commitment to innovation requires a robust support infrastructure, such as XCM, which helps startups overcome manufacturing hurdles. At CES 2025, we look forward to connecting with international partners who can benefit from these valuable resources.”

XCM has empowered over 50 startups to ship a total of 260,000 units, maintaining a 100% on-time delivery rate for crowdfunded projects and significantly accelerating their product development cycles.

For example, LiberLive’s success exemplifies how XCM can help startups scale rapidly. By utilizing XCM’s resources, LiberLive rapidly scaled production from a few hundred to tens of thousands of units, capturing a key market opportunity.

XbotPark’s presence at CES 2025 exemplifies its commitment to removing barriers and turning dreams into reality for hardware innovators worldwide. By providing comprehensive support and a global platform, XbotPark is empowering the next generation of technology leaders.

XbotPark at CES 2025:

XbotPark and its incubator companies are located at:
Venetian Expo, Hall G – 63518

The XbotPark Collaborative Manufacture (XCM) exhibit is located at:
LVCC, South Hall 3 – 41026

About XbotPark

Since its founding in 2014, XbotPark has been a global force in incubating robotics and smart hardware startups. With a proven track record of incubating over 80 companies—including six unicorns such as NARWAL, HAI ROBOTICS, CiDi, and EcoFlow—XbotPark provides the resources and guidance startups need to scale from concept to mass production.

Learn more: XbotPark.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/xbotpark-showcases-over-30-incubated-hardware-startups-at-ces-2025-302346320.html

SOURCE XbotPark

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TETRA TECHNOLOGIES, INC. TO PARTICIPATE IN THE 27TH ANNUAL NEEDHAM GROWTH CONFERENCE

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18 minutes ago

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January 8, 2025

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THE WOODLANDS, Texas, Jan. 8, 2025 /PRNewswire/ — TETRA Technologies, Inc. (“TETRA” or the “Company”) (NYSE: TTI) announced that its senior management will participate at the 27th Annual Needham Growth Conference in New York on January 14th and 15th, 2025.   

Brady Murphy, Chief Executive Officer, and Elijio Serrano, Chief Financial Officer will be hosting one-on-one meetings on January 14 and 15 and will present on January 14 from 8:45 A.M. to 9:25 A.M. (ET) in the Rutherford meeting room. The Company’s presentation will be webcast as follows: Webcast Link.

To register for one-on-one meetings with management at the Lotte New York Palace Hotel in New York City (455 Madison Avenue at 50th Street), interested parties should contact conferences@needhamco.com. 

Company Overview

TETRA Technologies, Inc. is an energy services and solutions company focused on developing environmentally conscious services and solutions that help make people’s lives better. With operations on six continents, the Company’s portfolio consists of Energy Services, Industrial Chemicals, and Critical Minerals. In addition to providing products and services to the oil and gas industry and calcium chloride for diverse applications, TETRA is expanding into the low-carbon energy market with chemistry expertise, key mineral acreage, and global infrastructure, helping to meet the demand for sustainable energy in the twenty-first century. Visit the Company’s website at www.onetetra.com for more information or connect with us on LinkedIn.

View original content to download multimedia:https://www.prnewswire.com/news-releases/tetra-technologies-inc-to-participate-in-the-27th-annual-needham-growth-conference-302346305.html

SOURCE TETRA Technologies, Inc.

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