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VNET (VNET) Slashes 9% on Notes Maturity Extension Concerns
VNET (VNET) Slashes 9% on Notes Maturity Extension Concerns
Angelica Ballesteros
Thu, February 19, 2026 at 11:25 PM GMT+9 2 min read
In this article:
VNET
-0.48%
We recently published 10 Losing Stocks in an Otherwise Optimistic Market. VNET Group Inc. (NASDAQ:VNET) was one of the worst performers on Wednesday.
VNET Group extended its losing streak to a third straight session on Wednesday, shedding 9.38 percent to close at $12.46 apiece as investor sentiment was dampened by its initiative to push back the maturity date of its $250 million convertible senior notes for another seven months.
In a regulatory filing, VNET Group Inc. (NASDAQ:VNET) said that it entered into an amended agreement with investment vehicles managed by Blackstone Tactical Opportunities, under which the notes, which were supposed to expire in March 2027, will now mature on October 1, 2027, giving the company extra time to repay the loan. The yield rate was maintained at 2 percent.
Under the agreement, each $1,000 worth of notes can be converted into 90.91 American depositary shares, each representing six Class A shares.
VNET (VNET) Slashes 9% on Notes Maturity Extension Concerns
The amended loan agreement followed changes to VNET Group Inc.’s (NASDAQ:VNET) Finance leadership team, with the company welcoming Peter Zhihua Zhang as senior vice president for operational finance effective February 13. Zhang will be responsible for the company’s financial operations and is authorized to review and approve the company’s financial statements and related filings.
“As a homegrown talent who has grown and developed through multiple key positions across our finance operations, Peter embodies our strong culture of nurturing internal leaders. His deep financial management expertise and extensive institutional knowledge will further strengthen our strategic execution, supporting sustainable growth and long-term value creation,” said VNET Group Inc. (NASDAQ:VNET) interim CEO Josh Sheng Chen.
While we acknowledge the potential of VNET as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey****.****
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