Missionirnewsbreaks Whitefiber, Inc. (NASDAQ: WYFI) Closes Upsized $310 Million Convertible Notes Offering

(MENAFN- Investor Brand Network) 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.

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About WhiteFiber, Inc.

WhiteFiber is a provider of AI infrastructure solutions. WhiteFiber owns HPC data centers and provides cloud services to customers. Our vertically integrated model combines specialized colocation, hosting, and cloud services engineered to maximize performance, efficiency, and margin for generative AI workloads.

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