B. Riley Securities served as joint lead bookrunner on an upsized $230 million private placement of convertible senior notes for WhiteFiber, including the full exercise of the offering overallotment option.
Net proceeds from the offering will be used primarily to support WhiteFiber’s data center expansion initiatives, including the development and construction of additional AI-optimized data centers, entry into new energy service agreements, equipment purchases and potential strategic acquisitions, partnerships and joint ventures, as well as for working capital and general corporate purposes.
In connection with the offering, WhiteFiber entered into a privately negotiated zero-strike call option transaction designed to facilitate investor hedging and reduce potential dilution upon conversion of the notes. A portion of the proceeds was used to fulfill the purchase of the zero-strike call option.
B. Riley Securities’ investment banking team was led by Joe Nardini and Patrick Hanniford, and included Alex Wolodzko and Hayden Kickbush. The capital markets team was led by Pat Pilouk, Jimmy Baker and Ryan Aceto, with Dawn Farrell and Bishal Ghosh.
