Keel Infrastructure Corp. (formerly Bitfarms Ltd.) is trading 4.9% up at $5.38 in pre-market after the company announced the pricing of an upsized convertible debt offering.
- On June 5, the company priced $400 million of 1.250% convertible senior notes due 2032, which was increased from the originally announced $350 million.
- Proceeds are intended to fund capped call transactions and support the expansion of data center projects for AI and high-performance computing workloads.
- The notes will have an initial conversion price of approximately $7.41 per share, representing a 25% premium to the stock's closing price on June 4, 2026.