Keel Infrastructure Corp. (NASDAQ: KEEL) (TSX: KEEL) Soars On Its AI Bet

(MENAFN- Investor Ideas) ) a trusted platform for investing ideas including AI stocks issues a news and trading alert for Keel Infrastructure Corp. (NASDAQ: KEEL) (TSX: KEEL ), a North American digital and energy infrastructure company.

Keel makes the TSX top percentage gainers list today, currently trading at $10.24 +1.40 (+15.82%) on volume of over 5.1 Million shares.

Investors are betting on the new direction of the company as it moves from Bitcoin to AI.

Keel Infrastructure, formerly Bitfarms, is making strong progress in its strategic shift from Bitcoin mining to AI and high-performance computing infrastructure. The move is supported by fully funded data center developments, a multi-billion-dollar government contract package for rail and infrastructure projects, and steady advances in permitting and construction at key sites across North America.

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On June 9th Keel announced that it closed its offering of $458 million aggregate principal amount of 1.250% convertible senior notes due 2032 (the "Convertible Notes"), which includes the exercise in full of the $58 million option granted to the initial purchasers of the Convertible Notes.

Summary of the Offering

Approximately $445.4 million in net proceeds to Keel, after deducting the initial purchasers' discounts and commissions but before deducting the estimated offering expenses and the cost of the capped call transactions. Interest coupon of 1.250% per annum, payable semi-annually in arrears on January 15 and July 15 of each year, beginning on January 15, 2027. Initial conversion price of approximately $7.41 per share of common stock, which represents an approximately 25% premium to the last reported sale price of $5.93 per share of common stock on the Nasdaq on June 4, 2026. Initial cap price of the capped call transaction of $11.86 per share of common stock, which represents a premium of 100% to the last reported sale price of $5.93 per share of common stock on the Nasdaq on June 4, 2026.

Use of Proceeds

The Company's existing liquidity is expected to be sufficient to develop Panther Creek, Sharon, and Moses Lake through leasing. The proceeds from this offering are expected to improve the Company's flexibility to make value-add investments across the Company's current developments.

Keel intends to use the net proceeds as follows:

A portion of the net proceeds from this offering was used to fund the cost of entering into the capped call transactions described above. The remaining net proceeds will be used for general corporate purposes, which may include funding deposits for long-lead equipment and/or collateralizing letters of credit related to expanding and/or accelerating data center development projects.

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