The company expects to raise $979.5 million from the equity offering, or about $1.127 billion, if the underwriters fully exercise their option to purchase additional shares.
Nebius Group N.V. (NBIS) stock is on track to rebound from Wednesday’s losses, as it is trading higher in the early premarket session.
The reversal came after the Munich, Amsterdam-based company said it priced a previously disclosed public offering of $1 billion of Class A shares at $92.50 per share, a small discount to Wednesday’s closing price of $93.39.
Nebius has also given the underwriters a 30-day option to purchase up to an additional $150 million shares at the public offering price, less underwriting discounts and commissions. The offering is expected to close on September 15, subject to customary closing conditions.
It expects to raise $979.5 million from the common stock offering, or about $1.127 billion, if the underwriters fully exercise their option to purchase additional shares.
The company also said it has priced its $2.75 billion aggregate original principal amount of convertible senior notes in two series: $1.375 billion aggregate original principal amount of 1% convertible notes due 2030 and $1.375 billion aggregate original principal amount of 2.75% convertible notes due 2032.
The artificial intelligence (AI) infrastructure company’s stock jumped nearly 50% on Tuesday after it announced a deal to deliver dedicated GPU infrastructure capacity in tranches to Microsoft from its new data center in Vineland, New Jersey, starting later this year. The deal has a contract value of up to $19.4 billion.
The stock reversed course in the very next session as it announced the debt and equity offering.
Nebius expects to use the net proceeds from the debt and equity offering to finance growth, including acquiring additional compute power and hardware, securing strategic high-quality and well-located land plots with reliable providers, expanding its data center footprint, and for general corporate purposes.
On Stocktwits, retail sentiment toward Nebius remained ‘extremely bullish’ (87/100) and the message volume continued to be ‘extremely high.’
Nebius stock is up nearly 240% year-to-date.
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