The notes will carry a 5.00% annual interest rate, payable semiannually starting March 2027. Investors gain an initial conversion price of approximately $33.84 per share, representing a 25% premium over the company’s closing price on August 18. WhiteFiber has also granted initial purchasers a 13-day option to acquire an additional $40 million in notes to cover over-allotments.

Proceeds from the offering are earmarked for significant capital projects, including property acquisitions, construction of new data centers, and the procurement of high-end GPU servers to bolster the company’s cloud business. A portion of the funds, roughly $118.5 million, is designated to settle concurrent exchange transactions involving the company’s existing 2031 notes. As part of this debt shuffle, WhiteFiber is issuing approximately 6.3 million ordinary shares to participating holders. While the company pursues this growth trajectory, it noted that fully realizing its expansion goals will require additional project financing, such as construction loans, beyond the capital raised in this current offering.