TechMediaBreaks – WhiteFiber, Inc. (NASDAQ: WYFI) Closes Upsized $310 Million Convertible Notes Offering
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…