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VNET Prices Offering of US$430 Million Convertible Senior Notes due 2030

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BEIJING, March 13, 2025 /PRNewswire/ — VNET Group, Inc. (Nasdaq: VNET) (“VNET” or the “Company”), a leading carrier-neutral and cloud-neutral internet data center services provider in China, today announced the pricing of its offering (the “Notes Offering”) of US$430 million in aggregate principal amount of 2.50% convertible senior notes due 2030 (the “Notes”). The Notes Offering is expected to close on or about March 17, 2023, subject to the satisfaction of customary closing conditions.

The Notes will bear interest at a rate of 2.50% per annum, payable semi-annually in arrears on April 1 and October 1 of each year, beginning on October 1, 2025. The Notes will be senior, unsecured obligations of the Company. The Notes will mature on April 1, 2030 unless earlier repurchased, redeemed or converted in accordance with the terms of the Notes prior to such date.

Holders of the Notes have the right to require the Company to repurchase all or part of their Notes in cash on April 3, 2028 or, subject to certain conditions, in the event of certain fundamental changes (as will be defined in the indenture of the Notes), at a repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the relevant repurchase date. In addition, on or after April 10, 2028, the Company may redeem all or part of the Notes for cash subject to certain conditions, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but not including, the relevant optional redemption date. Furthermore, the Company may redeem all but not part of the Notes in the event of certain changes in the tax laws, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but not including, the related redemption date.

Holders of the Notes may not convert the Notes at any time on or prior to the 40th day following the last date of the original issuance of the Notes (such date, the “Compliance Period End Date”). After the Compliance Period End Date and prior to the close of business on the business day immediately preceding October 1, 2029, the Notes will be convertible only if certain conditions are met. From and after October 1, 2029, holders of the Notes may convert their Notes at any time at their election until the close of business on the second scheduled trading day immediately preceding the maturity date. The Company will settle conversions by paying or delivering, as applicable, cash, the American Depositary Shares, each representing six Class A ordinary shares, with par value of US$0.00001 per share, of the Company (the “ADSs”) or a combination of cash and ADSs, at the Company’s election, subject to certain restrictions.

The Notes will initially be convertible at a conversion rate of 72.7273 ADSs per US$1,000 principal amount of Notes, which is equivalent to an initial conversion price of approximately US$13.75 per ADS and represents a conversion premium of approximately 25.0% above the Nasdaq closing price of the Company’s ADSs on March 12, 2025, which was US$11.00 per ADS. The initial conversion rate is subject to adjustment upon the occurrence of certain events.

The Notes are offered in offshore transactions outside the United States to certain non-U.S. persons in compliance with Regulation S under the United States Securities Act of 1933, as amended (the “Securities Act”). The Notes, the ADSs deliverable upon conversion of the Notes (if any) and the Class A ordinary shares represented thereby have not been and will not be registered under the Securities Act or any other applicable securities laws, and may not be sold or otherwise transferred except under an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any other applicable securities laws. No public offering of the Notes, the ADSs deliverable upon conversion of the Notes (if any) and the Class A ordinary shares represented thereby is being made into the United States.

The Company intends to use the net proceeds from the Notes Offering for the capital investment in wholesale IDC projects, working capital and general corporate purposes.

The Company expects that potential investors in the Notes may employ a convertible arbitrage strategy to hedge their exposure in connection with the Notes. Any such activities by potential investors of the Notes following the pricing of the Notes Offering and prior to the maturity date could decrease (or reduce the size of any increase in) the market price of the ADSs and the trading price of the Notes. The effect, if any, of the activities described in this paragraph, including the direction or magnitude, on the market price of the ADSs or the trading price of the Notes will depend on a variety of factors, including market conditions, and cannot be ascertained at this time.

This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities, nor shall there be a sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. This press release contains information about the pending Notes Offering, and there can be no assurance that such transaction will be completed.

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 VNET’s beliefs and expectations, 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 

 

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SOURCE VNET Group, Inc.

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Mahoney Environmental Customers and Theft Prevention Team Help Lead to Nine Arrests in Three States in Under a Month

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WOODRIDGE, Ill., Nov. 4, 2026 /PRNewswire/ — Mahoney Environmental, a leading used cooking oil (UCO) recycler, today shares that its Grease Theft Rewards Program and Theft Prevention Team supported four recent incidents in three states that resulted in nine arrests in under a month.

Recent Incidents

Cranston, R.I. (Sept. 11): Police made two arrests after locating a suspect vehicle at PJ’s Pub. About 100 gallons of UCO were taken. Mahoney’s Sales and Theft Prevention teams collaborated on the case.Plymouth, Ind. (Sept. 17): A King Gyros owner spotted a truck stealing UCO on camera and called dispatch. When the truck returned, police arrested two men.Evansville, Ind. (Sept. 29): Officers responded to a theft in progress and found roughly 300 gallons of UCO in the suspects’ van. Two men were charged.Beverly, Mass. (Oct. 10): A neighbor alerted a business owner, who watched surveillance footage and called police. Officers made three arrests.

Why Quick Reporting Matters

Annually, UCO theft costs restaurants and recyclers millions of dollars, and thieves can empty a container in minutes. In each case, someone noticed something wrong and acted.

“Restaurant owners have enough to worry about without wondering if their oil is safe overnight. That’s why every Mahoney customer is eligible for a reward when their tip leads to an arrest and/or conviction. We want customers to know that speaking up is worth it, and that we have their backs,” said Beau Mega, SVP of Sales and Marketing, Mahoney Environmental.

How the Program Works

Mahoney’s dedicated Theft Prevention Team works closely with law enforcement and customers to identify and prosecute UCO thieves. All customers are eligible for cash rewards, and rewards vary between misdemeanor and felony convictions and are granted per vehicle. To report a theft or learn more, visit the Mahoney Environmental Grease Theft Rewards Program.

All individuals arrested are presumed innocent until proven guilty.

About Mahoney Environmental

Founded in 1953, Mahoney Environmental helps food service operators nationwide recycle used cooking oil, enabling nearly 100% material recovery at all facilities. In 2020, Neste (HEL: NESTE) acquired Mahoney Environmental, strengthening the global supply chain for sustainable aviation fuel and renewable diesel production. Mahoney is a licensed EPA and ISCC Certified recycler committed to creating a safer planet for future generations.

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SOURCE Mahoney Environmental

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Getwebcraft Limited launches MakeCalligraphy for creative lettering and text design

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MakeCalligraphy offers free tools for decorative lettering, signatures, monograms, and handwritten pages for personal projects and business use.

NICOSIA, Cyprus, Nov. 4, 2026 /PRNewswire-PRWeb/ — Getwebcraft Limited has launched MakeCalligraphy, a collection of free online tools for creating lettering for personal projects, business communications, and event stationery. The site lets users turn their own words into styled text images, compare fonts, and download lettering for use in digital designs and print layouts.

Getwebcraft Limited has launched MakeCalligraphy, a collection of free online tools that lets users turn their own words into styled text images, compare fonts, and download lettering for use in digital designs and print layouts.

The collection includes calligraphy, cursive, and decorative font generators, signature and monogram makers, and a tool for turning typed text into handwritten pages. Users can explore styles such as brush, gothic, graffiti, tattoo, manga, and comic lettering for branding, social media graphics, invitations, stationery, and personalized gifts. Below is a spotlight on five tools from MakeCalligraphy’s wider collection for lettering and text design.

Calligraphy and cursive generator for names, messages, and branding

The calligraphy and cursive generator turns names, quotes, slogans, and other short text messages into lettering using handwritten, cursive, and script fonts. Users can compare their text in several fonts before choosing a version and adjusting its size, color, line height, and alignment.

Background options include transparent and colored fills, allowing the exported lettering to fit different layouts. Users can turn a name into cursive lettering, style a quote for a social media graphic, or create a calligraphy heading for a website. Downloads are available as PNG images or scalable SVG files, without watermarks.

Signature generator with typing and drawing options

The signature generator gives users two ways to create a signature image. They can type a name and compare handwritten font styles, or draw their own signature with a mouse, finger, or stylus.

For drawn signatures, pen styles and settings let users adjust the appearance of existing strokes, including their size and color. Depending on the selected pen, controls also support changes to smoothing, stroke contrast, and tapered endings. Users can compare finishes on the same drawing before downloading it.

Transparent PNG files can be placed in compatible email or document editors. SVG files provide scalable artwork for compatible design software. Uses include personal website signoffs, artwork credits, and names added to letters or presentation slides.

Wedding text generator for invitations and stationery

The wedding text generator helps users compare names, dates, and short phrases in wedding calligraphy, script, and handwritten fonts. They can adjust text size, colors, line spacing, and alignment, then download the lettering for use in their own invitation or stationery layout.

Couples and event planners can use the same lettering style across invitation headings, guest place cards, menus, welcome signs, and thank you notes. Transparent backgrounds allow the lettering to sit over a photograph or colored design, while SVG downloads can be scaled in compatible software for larger printed signs. Users supply the wording and assemble the finished design in their chosen application.

Monogram maker for initials and personal designs

The monogram maker combines initials, fonts, and frames for personal or wedding monograms. Users can start with a preset, adjust individual letters, and change the colors and background. Designs can be downloaded as PNG images or scalable SVG files for use on invitations, stationery, and other personal designs.

Text to handwriting for notes and letters

The text to handwriting tool turns typed passages into pages styled with handwriting fonts. Users can choose paper formats, adjust margins and line spacing, and set ink and paper colors. Longer text flows across multiple pages. The tool exports a complete document as a PDF or the current page as a PNG, allowing users to prepare notes and letters for printing or sharing.

All the MakeCalligraphy tools work directly in a browser without requiring an account.

About MakeCalligraphy

MakeCalligraphy is a collection of free online tools for calligraphy, signatures, decorative lettering, and other text design projects. Its tools work in a browser and help users style their own text for personal and business projects. MakeCalligraphy is developed by Getwebcraft Limited.

Media Contact

Giorgia Mangoni, Getwebcraft Limited, 39 3402200119, giorgia.mangoni@getsitecontrol.com

View original content:https://www.prweb.com/releases/getwebcraft-limited-launches-makecalligraphy-for-creative-lettering-and-text-design-302927457.html

SOURCE Getwebcraft Limited

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Harvard students win the 2026 James Dyson Award’s Global Medical category for Rumble Rims, a breakthrough concussion-screening headset

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BOSTON, Nov. 4, 2026 /PRNewswire/ — Rumble Rims, a low-cost headset designed to bring objective concussion screening to the sidelines, has won the Global Medical category of the 2026 James Dyson Award. Created by Harvard University students Cleo Pontone, Radhika Saran and Sophia DeVito, the U.S. invention uses infrared eye-tracking to help identify possible neurological impairment when critical decisions must be made. The team will receive $40,000 to accelerate development of the technology.

Rumble Rims has won the 2026 James Dyson Award’s Global Medical category. Selected by Sir James Dyson, the Harvard team’s invention addresses one of sports’ most urgent safety challenges: recognizing a possible concussion quickly and objectively before an athlete returns to play.

The honor places Rumble Rims among the world’s most promising student inventions. Since 2005, the James Dyson Award has supported more than 400 student inventions worldwide with $2 million in prize money. This year, 2,294 entries were submitted by emerging engineers across 28 countries and regions—the highest number in the competition’s history.

James Dyson on Rumble Rims: “All too often, we hear of those having accidents involving head injuries, particularly amongst athletes, and suffering the consequences later in life. Yet spotting concussion is complex, requiring specialist equipment and hospital expertise, so screening isn’t always done when it should be. Cleo, Radhika and Sophia have found a new way to bring objective screening to the sidelines, where the critical decisions are made. It could help prevent the lasting brain injuries that affect so many sportsmen and women.”

2026 Global Medical Winner – Rumble Rims, invented by Cleo Pontone, Radhika Saran and Sophia DeVito

A critical challenge in sports

Concussion is a serious concern at every level of sports, from youth leagues to elite competition. When it goes unrecognized and an athlete continues to play, the risk of further brain injury can increase. Yet concussion can be difficult to identify in the moment because symptoms differ from person to person and may take up to 72 hours to appear.

Objective assessment technologies are available, but many are expensive, clinic-based or dependent on specialist expertise. That can leave schools, youth leagues and grassroots teams relying heavily on subjective sideline judgment precisely when fast, informed decisions matter most.

A winning solution built for the sidelines

Harvard University students Cleo Pontone, Radhika Saran and Sophia DeVito developed Rumble Rims to help close that gap. Their low-cost infrared eye-tracking headset is designed to bring objective concussion screening to the sidelines, placing potentially valuable neurological insight closer to athletes, coaches and trainers at the moment of concern.

During a two- to three-minute test, infrared cameras measure how an athlete’s eyes follow, fixate and move—behaviors that can provide an objective indication of neurological impairment. A mobile display translates those measurements into real-time guidance to help inform whether an athlete should be removed from play and referred for professional medical assessment.

Rumble Rims extends beyond the initial sideline screening. Its recovery dashboard enables repeat testing over time, creating an objective record that athletes, families and clinicians can use to monitor progress before returning to play. The system is intended as a screening tool, not a diagnostic device; return-to-play decisions remain under the direction of a qualified healthcare professional.

The team moved through prototypes involving helmets, mouthguards and chin rests before developing the current headset, which uses side-mounted infrared cameras and 45-degree dichroic mirrors. Feedback from medical professionals and coaches informed the design throughout. With support from the James Dyson Award, the team plans to build and test a higher-fidelity prototype, refine the eye-movement assessment and validate Rumble Rims with athletes, coaches, trainers and medical advisers. Their longer-term ambition is to pilot the technology with schools and youth sports programs and pursue medical device validation.

On winning the James Dyson Award, Cleo, Radhika and Sophia said: “The recognition from the James Dyson Award validates our belief that we don’t have to accept problems as they stand today. Concussions in youth sports have become something we treat as routine, despite their long-term neurological impact. We can challenge norms like this one and design a more usable, accessible world where technology reaches people when they need it most, not after the damage is done. This award gives us an incredible opportunity to progress towards pilots that could put Rumble Rims on every sideline.”

Shuya Gong, Faculty of Master’s in Design Engineering at Harvard, said: “What impressed me most about Cleo, Sophia, and Radhika was how, through rapid prototyping and curious experimentation, they found elegant ways to test ambitious ideas while holding themselves to the conviction that their solution should be affordable and easy to use, whether on the sidelines or at home. Rumble Rims is a fantastic collision of designing for care and engineering rigor.”

James Dyson Award

The James Dyson Award is an international design competition that inspires and celebrates the next generation of design engineers. Now in its 21st year, the Award has supported more than 400 problem-solving inventions with over $2.3m in prize money. It operates across 28 countries and regions and is run by the James Dyson Foundation, Sir James Dyson’s engineering-education charity.

James Dyson Foundation

The James Dyson Foundation, established in the UK in 2002, now supports design, technology and engineering education programs not only in the UK but also in countries around the world, including the United States, Japan, Singapore, the Philippines and Malaysia. To date, James Dyson and the James Dyson Foundation have donated more than $210 million to charitable causes. This includes a $16 million donation to establish the Dyson School of Design Engineering at Imperial College London, an $11 million donation to support the creation of the Dyson Centre for Engineering Design and the James Dyson Building at the University of Cambridge and finally, a $10.5 million donation to fund Malmesbury Primary School’s STEAM Center and expansion project.

1 Sarmiento, K., Thomas, K. E., Daugherty, J., Waltzman, D., Haarbauer-Krupa, J. K., Peterson, A. B., Haileyesus, T., & Breiding, M. J. (2019). Emergency department visits for sports- and recreation-related traumatic brain injuries among children — United States, 2010–2016 . MMWR Morbidity and Mortality Weekly Report, 68(10), 237–242.
2 DePadilla, L., Miller, G. F., Jones, S. E., Peterson, A. B., & Breiding, M. J. (2018). Self-reported concussions from playing a sport or being physically active among high school students — United States, 2017 . MMWR Morbidity and Mortality Weekly Report, 67(24), 682–685.
3 Centers for Disease Control and Prevention. Responding to a sports-related concussion; and Centers for Disease Control and Prevention. Returning to sports. CDC HEADS UP.
4 Eye-movement and ocular biomarker research, including Murray et al. Smooth pursuit and saccades after sport-related concussion; and Carrick et al. The pupillary light reflex as a biomarker of concussion.

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SOURCE Dyson

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