CoreWeave announced the completion of two separate private debt offerings totaling $5.75 billion. The capital raise consists of $1.75 billion in Senior Notes and $4.0 billion in Convertible Senior Notes. Proceeds are intended for general corporate purposes, including potential debt repayment and funding associated capped call transactions to mitigate shareholder dilution.
Key Details
- Senior Notes Offering: The company issued $1.75 billion of 9.750% Senior Notes due 2031.
- Convertible Notes Offering: The company issued $4.0 billion of 1.75% Convertible Senior Notes due 2032. This includes the full exercise of a $500 million option by initial purchasers. The notes have an initial conversion price of approximately $119.60 per share, a 30% premium to the stock price on April 9, 2026.
- Capped Call Transactions: In connection with the convertible notes, CoreWeave entered into capped call transactions for $492.0 million to reduce potential stock dilution. The transactions have a cap price of $230.00 per share.