-- CoreWeave (CRWV) said Friday it priced an upsized $3.5 billion private offering of 1.75% convertible senior notes due 2032, up from a previously announced $3 billion.
The company said the deal is expected to close April 14, with an option for buyers to purchase an additional $500 million.
CoreWeave said the notes carry a 1.75% annual interest rate and an initial conversion price of about $119.60 per share.
The notes mature in October 2032 and can be converted into cash, shares, or a combination of both at the company's discretion, it added.
CoreWeave said it expects net proceeds of about $3.45 billion, which it plans to use for general corporate purposes, including funding capped call transactions designed to limit shareholder dilution.