WhiteFiber, Inc. closed its private placement of 5.00% convertible senior notes due 2032 on August 21, 2026. The company upsized the offering to $270 million from an initial $250 million. Initial purchasers hold a 13-day option to buy up to an additional $40 million in notes.
WhiteFiber shares fell more than 25% on August 19 following the pricing announcement. Investors sold off the stock due to concerns regarding potential shareholder dilution.
The company expects net proceeds of approximately $259.8 million from the sale. Management will use the capital to fund data center expansions in North Carolina and for general corporate purposes.