CoreWeave plans $3 billion debt offering and up to 35 million share sale

Proceeds from the equity program would be used for general corporate purposes.

CoreWeave plans to raise $3 billion through an offering of convertible senior notes due 2033 to qualified institutional buyers, according to a new SEC filing.

The initial purchasers could acquire another $500 million of notes under a 13-day option beginning on the date the notes are first issued, the filing notes. CoreWeave also expects to enter into capped call transactions with financial institutions to cover the shares underlying the notes, using part of the offering proceeds to fund those transactions and the remainder for general corporate purposes.

The company also signed an equity distribution agreement covering up to 35 million shares of Class A common stock.

Net proceeds from any such stock sales and amounts received when collared forwards are settled would be available for general corporate purposes, including repaying debt, funding operations and capital expenditures, making investments and acquisitions, and supporting a move toward an investment-grade enterprise credit profile.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

CoreWeave plans to raise $3 billion through an offering of convertible senior notes due 2033 to qualified institutional buyers, according to a new SEC filing.

The company also signed an equity distribution agreement covering up to 35 million shares of Class A common stock.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.