WhiteFiber Inc. (NASDAQ: WYFI) priced a $270 million convertible senior notes offering due September 1, 2032, the company said on Wednesday.
The notes carry a 5.00% annual coupon, payable semiannually starting March 1, 2027. The initial conversion rate is set at 29.5530 ordinary shares per $1,000 principal amount, implying a conversion price of approximately $33.84 per share and a 25.0% premium over the prior session’s closing price.
The offering size was increased from an initially announced $250 million, with initial purchasers granted a 13-day option to purchase up to an additional $40 million in notes. Estimated net proceeds after fees and expenses are approximately $259.8 million, with about $118.5 million allocated to a concurrent cash exchange of existing convertible notes.
WhiteFiber exchanged $198.15 million in aggregate principal of its 4.500% convertible senior notes due 2031 for roughly $118.5 million in cash and approximately 6.3 million ordinary shares. The remaining proceeds will primarily fund data center expansion, including property acquisitions, construction, energy service agreements, GPU server purchases, and potential acquisitions.
The notes may be redeemed for cash at par plus accrued interest starting September 6, 2030, provided the stock trades at least 130% of the conversion price for at least 20 trading days within any 30-day window. The offering is expected to close on August 21, 2026.
