Nebius Group Prices Offering Of $1 Bln Of Shares, Upsizes Price For $2.75 Bln Of Sr. Notes Offering

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(RTTNews) - Nebius Group N.V. (NBIS), an AI infrastructure company, announced on Thursday that it has priced its previously announced underwritten public offering of $1 billion of class A shares at $92.50 per class A share. In addition, the company has granted the underwriters a 30-day option to purchase up to an additional $150 million of class A shares. The offering is expected to close on September 15.

The Group projects net proceeds of around $979.5 million from this offering, or approximately $1.126 billion, if the underwriters fully exercise their option to purchase additional class A shares.

The company has also announced the pricing of its $2.750 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 offering was upsized from the previously announced $2 billion of the notes, split equally between the two series. In connection with the notes offering, the company granted the initial purchasers of the notes to purchase up to an additional $206.250 million of the 2030 notes and up to an additional $206.250 million of the 2032 notes.

The company estimates that the net proceeds from the concurrent offering of the notes will be around $2.694 billion, or approximately $3.098 billion, if the initial buyers fully exercise their option to purchase additional notes.

Nebius intends to use the net proceeds from the offering of class A shares and the offering of the notes to finance the continuing growth of its business, including the acquisition of additional compute power and hardware, for general corporate purposes, and others.

The offering of class A ordinary shares is not contingent upon the consummation of the concurrent offering of the notes, while the concurrent offering of the notes is not contingent upon the consummation of the offering of class A shares.