Loan & DebtMay 27, 2026, 05:11 PM
WhiteFiber Secures $100M Delayed Draw Term Loan Facility
AI Summary
WhiteFiber, Inc. announced that its wholly-owned subsidiary, Enovum NC-1 Venture, LLC, entered into a Delayed Draw Term Loan Facility and Security Agreement with Bit Digital Capital, Inc. for up to $100 million, with a potential increase to $150 million. This facility provides WhiteFiber with additional financial flexibility to support near-term growth initiatives, including the completion of the first phase of a high-performance computing data center in Madison, North Carolina. The loan has a 9-month term, extendable by 3 months, and an initial interest rate of 9.5% per annum, which can step down to 8% upon meeting certain conditions.
Key Highlights
- WhiteFiber's subsidiary secured a Delayed Draw Term Loan Facility for up to $100 million.
- The facility size may be increased to $150 million upon mutual agreement.
- The term of the loan is 9 months, extendable by an additional 3 months.
- The initial interest rate is 9.5% per annum, stepping down to 8% after specific conditions are met.
- Proceeds will be used for general corporate purposes, including the NC-1 data center buildout.
- Bit Digital Capital, Inc. assigned a $20 million portion of an Advance to B. Riley Securities.
- Fairness opinions were received from Needham and Seaport Global Securities.
Price Impact
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