Financing ·
WhiteFiber, Inc. completed an upsized private offering of $310.0 million aggregate principal amount of 5.00%…
WYFIWhiteFiber, Inc.
WhiteFiber, Inc. completed an upsized private offering of $310.0 million aggregate principal amount of 5.00% Convertible Senior Notes due 2032 on August 21, 2026, including the full exercise of the initial purchasers' option to purchase an additional $40.0 million in notes. The company received net proceeds of approximately $298.5 million after deducting discounts and offering expenses. Concurrently, WhiteFiber exchanged $198.15 million in aggregate principal amount of its 4.500% Convertible Senior Notes due 2031 for approximately $118.5 million in cash (including accrued interest) and roughly 6.3 million ordinary shares, reducing the outstanding principal of the existing notes to approximately $31.85 million. The company used approximately $118.5 million of the net proceeds from the new offering to fund the cash consideration for these note exchange transactions. The remaining net proceeds are intended primarily for data center expansion, including funding property leases or purchases, construction, energy service agreements, and GPU server equipment for its cloud business, as well as potential acquisitions and working capital. WhiteFiber operates in the artificial intelligence infrastructure and high-performance computing sector, owning HPC data centers and providing cloud services.