BUZZ-CoreWeave rises as convertible bond offering upsized to $3.5 bln

Reuters04-10
BUZZ-<a href="https://laohu8.com/S/CRWV">CoreWeave</a> rises as convertible bond offering upsized to $3.5 bln

** CoreWeave's CRWV.O shares up 4.1% at $95.78 before the bell after securing more capital than planned

** CRWV announces pricing private offering of $3.5 bln 1.75% convertible bonds (CBs) due Oct 2032

** Offering size boosted from $3 bln; initial conversion price of $119.60 represents 30% premium over stock's last close of $92

** CRWV shares rose 3.5% on Thurs after co expanded its partnership with Meta Platforms META.O in $21 bln agreement to provide the Facebook parent with additional computing capacity

** Early Fri, CRWV unveiled multi-year agreement to support the development and deployment of Anthropic’s Claude family of AI models

** CRWV intends to use $430.5 mln of net offering proceeds from the CBs to fund capped call transactions, and remainder for general corp purposes

** Recommendation breakdown of 35 analysts covering CRWV stock is 7 "strong buy", 14 "buy", 12 "hold", 1 "sell" and 1 "strong sell"; median PT $120 - LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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