BEIJING, Jan. 19, 2023 /PRNewswire/ -- iQIYI, Inc. (Nasdaq: IQ) ("iQIYI" or the "Company"), a leading provider of online entertainment video services in China, today announced the closing of the previously disclosed underwritten public offering (the "Offering") of 76,500,000 American Depositary Shares of the Company (the "ADSs"), at a public offering price of US$5.90 per ADS. The Company had granted the underwriters a 30-day option to purchase up to an aggregate of 11,475,000 additional ADSs. The net proceeds of the Offering (after deducting underwriting commissions) amounted to US$442.3 million, assuming the underwriters do not exercise the option to purchase additional ADSs.
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