The offering, which included the full exercise of a $40 million option by purchasers, carries a 5% interest rate and an initial conversion price of $33.84 per share. This conversion price marks a 25% premium over the company’s closing price on August 18. After accounting for transaction expenses, WhiteFiber netted approximately $298.5 million. Of that total, $118.5 million was immediately deployed to retire a portion of existing debt, specifically exchanging $198.15 million in 2031 notes for a mix of cash and 6.3 million ordinary shares.
In section Releases
WhiteFiber Secures $310 Million to Accelerate Data Center Expansion
WhiteFiber, a specialist in AI infrastructure and high-performance computing, has closed an upsized $310 million offering of convertible senior notes due in 2032. The capital infusion allows the firm to aggressively scale its data center footprint and procure GPU hardware, aiming to bring 100 megawatts of capacity online by 2027.
CEO Sam Tabar stated the funding provides the necessary liquidity to finalize the first phase of the company's NC-1 project and prepare for upcoming colocation growth. The company plans to use the remaining capital for land acquisition, facility construction, energy service agreements, and the purchase of GPU servers for its cloud operations. By securing this financing, WhiteFiber intends to reduce schedule risks and finalize long-term lease agreements with high-quality customers before the end of the year.
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