The offering, directed at qualified institutional buyers, includes an option for initial purchasers to acquire an additional $37.5 million in notes. These obligations will be senior and unsecured, with the company retaining the right to settle conversions using cash, ordinary shares, or a mix of both. Final terms, including interest rates and conversion pricing, remain subject to market conditions at the time of the sale.

Simultaneous with the note offering, the company expects to execute privately negotiated exchanges for a portion of its existing 4.500% convertible notes due in 2031. This strategy aims to manage debt obligations while supporting long-term growth. However, the company cautioned that participants in these exchanges may unwind hedge positions and sell ordinary shares, a move that could potentially exert downward pressure on the market price of WhiteFiber stock. While these funds provide a foundation for expansion, WhiteFiber noted that it will require additional project financing, such as construction loans, to fully realize its infrastructure development roadmap.