Loan & DebtSep 22, 2026, 04:24 PM
CoreWeave Prices $4.2B Convertible Senior Notes Offering
AI Summary
CoreWeave, Inc. announced the pricing of its upsized private offering of $4.2 billion aggregate principal amount of 2.875% Convertible Senior Notes due 2033. The Notes are guaranteed by its wholly owned subsidiaries and will mature on April 1, 2033, unless earlier converted, redeemed, or repurchased. The company also entered into capped call transactions to mitigate potential dilution. Net proceeds are intended for general corporate purposes and funding these derivative transactions.
Key Highlights
- CoreWeave priced an upsized private offering of $4.2 billion aggregate principal amount of 2.875% Convertible Senior Notes due 2033.
- The Notes are general senior, unsecured obligations of CoreWeave, guaranteed by its wholly owned subsidiaries.
- The initial conversion rate is 10.2194 shares of Class A common stock per $1,000 principal amount, representing an initial conversion price of approximately $97.85 per share.
- CoreWeave entered into capped call transactions covering shares underlying the Notes to reduce potential dilution.
- Net proceeds from the offering are estimated at $3.64 billion (or $4.14 billion if the option is fully exercised), intended for general corporate purposes and funding capped call transactions.
Price Impact
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