HIVE Announces Closing of Private Offering of $130 Million of 0% Exchangeable Senior Notes Due 2031
HIVE Digital Technologies closed a US$130 million private offering of 0% exchangeable senior notes due 2031, including the full exercise of a US$15 million over-allotment option. Combined with a prior note offering closed April 21, 2026, HIVE has raised US$245 million from 0% coupon notes this quarter, providing significant capital for its pivot toward AI and HPC infrastructure. Net proceeds of approximately US$124.5 million will fund general corporate purposes, GPU purchases, and data center development. The notes carry an initial exchange price of US$4.83 per share, a 27.5% premium to the June 25 closing price of US$3.79.
Key figures
- Deal Value Usd
- 130000000
- Maturity
- July 1, 2031
- Cap price
- 8.5275
- Cap premium
- 125.0%
- Coupon rate
- 0%
- Net proceeds
- $124.5 million
- Exchange rate
- 206.9429 Common Shares per US$1,000 principal amount
- Capped call cost
- $15.7 million
- Exchange premium
- 27.5%
- Total raised quarter
- $245 million
- Initial exchange price
- 4.83
- Last reported sale price
- 3.79
- Additional option exercised
- $15 million
AI analysis
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