CoreWeave announced the completion of its private offering of approximately $2.59 billion in 1.75% Convertible Senior Notes due 2031, including the full exercise of the initial purchasers' option. The offering generated net proceeds of approximately $2.54 billion, which will be used for general corporate purposes and to fund concurrent capped call transactions designed to reduce potential shareholder dilution.
Key Details
- Offering Details: The offering consisted of $2,587,500,000 aggregate principal amount of 1.75% Convertible Senior Notes, which will mature on December 1, 2031.
- Conversion Terms: The notes have an initial conversion price of approximately $107.80 per share, representing a 25% premium over the stock's closing price on December 8, 2025.
- Use of Proceeds & Capped Calls: Net proceeds were approximately $2.54 billion. The company used approximately $340.0 million to enter into capped call transactions, which have an initial cap price of $215.60 per share.