HIVE Digital Technologies Ltd. announced that its wholly-owned subsidiary, HIVE Bermuda 2026 Ltd., intends to offer US$100 million of 0% exchangeable senior notes due 2031 in a private offering to qualified institutional buyers. The offering is subject to market conditions and other factors.
Key Details
- Offering Size: US$100 million in aggregate principal amount, with a 13-day option for initial purchasers to buy up to an additional US$15 million.
- Security Terms: The notes are 0% exchangeable senior notes due 2031 and will be fully guaranteed by HIVE Digital Technologies Ltd.
- Use of Proceeds: Funds are designated for general corporate purposes, capital investment (specifically citing the purchase of GPUs), and data center development.
- Hedging Transaction: HIVE plans to enter into privately negotiated capped call transactions to reduce potential economic dilution to common shares upon the exchange of the notes.