WhiteFiber Announces Closing of Upsized Initial Public Offering

Company Overview - WhiteFiber, Inc. is a provider of artificial intelligence (AI) infrastructure solutions, owning high-performance computing data centers and offering cloud services to customers [5] - The company operates a vertically integrated model that combines specialized colocation, hosting, and cloud services designed to maximize performance, efficiency, and margin for generative AI workloads [5] - WhiteFiber is being carved out of Bit Digital, Inc. and will function as a separate public company following the completion of its initial public offering [5] Initial Public Offering (IPO) Details - WhiteFiber announced the closing of its upsized initial public offering of 9,375,000 ordinary shares at a public offering price of $17.00 per share [1] - The company received aggregate gross proceeds of $159.4 million from the IPO, before deducting underwriting discounts and commissions and offering expenses [1] - The ordinary shares began trading on The Nasdaq Capital Market under the symbol "WYFI" on August 7, 2025 [1] - WhiteFiber granted underwriters a 30-day option to purchase up to an additional 1,406,250 ordinary shares at the initial public offering price, less underwriting discounts and commissions [1] Underwriters and Management - B. Riley Securities and Needham & Company acted as the joint book-running managers for the offering, with Macquarie Capital also serving as a book-runner [2] - Roth Capital Partners acted as the lead manager, while Craig-Hallum and Clear Street served as co-managers for the offering [2] Regulatory Information - A registration statement relating to these securities was filed with the SEC and declared effective on August 6, 2025 [3] - The offering was made solely by means of a prospectus, with copies available from the respective underwriters [3]