WhiteFiber (WYFI) said late Monday it closed an offering of $230 million of 4.5% convertible senior notes due 2031.
The private offering comprised $20 million of notes issued upon the full exercise of an overallotment option by the initial purchasers.
Net proceeds totaled about $221.5 million. The company used roughly $120 million to fund a zero-strike call option transaction that offsets shares underlying the notes. The remaining proceeds will support data center expansion, potential acquisitions and working capital, according to a statement.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments