WhiteFiber, Inc. - Ordinary Shares (WYFI)

WhiteFiber (NASDAQ: WYFI) announced the closing of its previously announced upsized private placement of $310 million principal amount of 5% convertible senior notes due 2032, including the full exercise of the initial purchasers’ $40 million option. The company received approximately $298.5 million in net proceeds, using approximately $118.5 million for concurrent transactions that exchanged $198.15 million of existing convertible notes for cash and approximately 6.3 million ordinary shares. WhiteFiber expects to use the remaining proceeds primarily for data center expansion, including additional properties, facility construction, energy service agreements, GPU servers and potential acquisitions, partnerships and joint ventures, as well as working capital and general corporate purposes. The financing supports WhiteFiber plans to advance its development pipeline, including its target of bringing more than 100 MW of additional capacity online in 2027.

WhiteFiber (NASDAQ: WYFI) announced that underwriters of its completed initial public offering fully exercised their option to purchase an additional 1,406,250 ordinary shares at $17.00 per share, generating approximately $23.9 million in additional gross proceeds. The exercise increased the total number of shares sold in the IPO to 10,781,250 and aggregate gross proceeds to about $183.3 million.