Vulcan Announces Redemption of All Outstanding 8.50% Senior Notes Due 2026
Vulcan Infrastructure and Power delivered a notice of redemption for all outstanding 8.50% Senior Notes due 2026, with redemption expected October 13, 2026 at 100% of principal plus accrued interest, totaling roughly $30.9 million. Ahead of the redemption, the company completed a privately negotiated exchange, issuing $2.83 million of new 10.00% Senior Notes due 2030 plus warrants on 1 million Class A shares at $1.87 in exchange for $2.79 million of 2026 Notes. As of September 30, 2026, Vulcan held approximately $49.2 million of cash and digital assets, including $5.4 million of bitcoin, and expects about $16.9 million remaining after the redemption and $1.4 million of PIPE-related expenses.
Key figures
- Deal Value Usd
- 30345200
- New note coupon
- 10.00%
- Warrants issued
- 1000000
- Accrued interest
- $523,000
- Bitcoin fair value
- $5.4 million
- New 2030 notes issued
- 2833358
- Warrant exercise price
- 1.87
- Remaining pipe expenses
- $1.4 million
- Redemption total payment
- $30.9 million
- Cash and digital assets sep30
- $49.2 million
- Post redemption cash estimate
- $16.9 million
AI analysis
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