Core Viewpoint - Plug Power Inc. has announced the pricing of $375 million in 6.75% Convertible Senior Notes due 2033, with expected net proceeds of approximately $347.2 million, aimed at repaying existing debt and repurchasing convertible notes [1][2][3] Group 1: Offering Details - The notes are priced at 95% of their principal amount and are being offered to qualified institutional buyers under Rule 144A [2][7] - The offering is expected to close on November 21, 2025, subject to customary closing conditions [1] - An additional option for initial purchasers to buy up to $56.25 million in notes is available [1] Group 2: Use of Proceeds - Approximately $245.6 million of the net proceeds will be used to repay the outstanding principal and interest on 15.00% secured debentures [2] - About $101.6 million of the net proceeds, along with $52.4 million in cash on hand, will be used to repurchase approximately $138 million of 7.00% convertible senior notes due 2026 [2][6] Group 3: Notes Structure - The notes will be general unsecured obligations, ranking senior to future subordinated debts and equal to existing liabilities [3] - Interest on the notes will be paid semi-annually at a rate of 6.75%, starting June 1, 2026, with maturity on December 1, 2033 [3][4] - The notes cannot be redeemed before December 6, 2028, and holders can require repurchase on December 6, 2029 [4][5] Group 4: Conversion and Settlement - The notes will be convertible starting February 28, 2026, at an initial conversion rate of 333.3333 shares per $1,000 principal amount, equating to a conversion price of approximately $3.00 per share [5] - Conversions will be settled in cash, shares, or a combination, with cash settlement until the reserved share effective date [5] Group 5: Market Impact - The repurchase of the 2026 notes may lead to market activities that could affect the stock price of Plug Power [7] - The notes are not registered under the Securities Act and cannot be sold in the U.S. without an exemption [7]

Core Viewpoint - Lucid Group, Inc. has announced the pricing of an offering of $875 million in convertible senior notes, which will mature in 2031, with an interest rate of 7.00% per annum [1][2]. Summary by Sections Offering Details - The offering consists of $875 million aggregate principal amount of 7.00% convertible senior notes due 2031, with settlement expected around November 17, 2025 [1]. - An additional $100 million principal amount of notes may be purchased by initial purchasers within 13 days of the initial issuance [1]. Notes Characteristics - The notes will be senior, unsecured obligations, accruing interest at 7.00% per annum, payable semi-annually starting May 1, 2026 [2]. - The initial conversion rate is set at 48.0475 shares per $1,000 principal amount, equating to an initial conversion price of approximately $20.81 per share, representing a 22.5% premium over the last reported sale price of $16.99 on November 11, 2025 [2]. Redemption and Repurchase - The notes can be redeemed by Lucid starting November 6, 2028, if certain conditions regarding stock price and liquidity are met [3]. - Noteholders can require Lucid to repurchase their notes at the principal amount on November 1, 2029, or in the event of a "fundamental change" [4]. Use of Proceeds - Lucid estimates net proceeds from the offering to be approximately $863.5 million, intended primarily for repurchasing outstanding 1.25% Convertible Senior Notes due 2026, with about $752.2 million allocated for this purpose [5]. - The remaining proceeds will be used for general corporate purposes [5]. Prepaid Forward Transaction - Ayar Third Investment Company has entered into a prepaid forward transaction to purchase approximately $636.7 million of Lucid's common stock, with delivery expected around the maturity date of the notes [8]. - This transaction is designed to facilitate derivative transactions related to Lucid's common stock, potentially impacting the market price of the stock [9]. Company Overview - Lucid Group is a technology company based in Silicon Valley, focused on producing advanced electric vehicles, including the award-winning Lucid Air and Lucid Gravity SUV [12].

Core Viewpoint - IMAX Corporation has priced a private offering of $220 million in convertible senior notes, which are set to mature in 2030, with an interest rate of 0.75% per annum [1][2]. Summary by Sections Offering Details - The offering consists of $220 million aggregate principal amount of 0.75% convertible senior notes due 2030, with a settlement date scheduled for November 6, 2025 [1]. - An additional option for initial purchasers allows for the purchase of up to $30 million in principal amount of notes within 13 days of the initial issuance [1]. Interest and Conversion Terms - The notes will accrue interest at 0.75% per annum, payable semi-annually starting May 15, 2026, and maturing on November 15, 2030 [2]. - Noteholders can convert their notes under specific conditions before August 15, 2030, and at any time thereafter until the maturity date [2]. - The initial conversion rate is set at 23.5743 common shares per $1,000 principal amount, equating to an initial conversion price of approximately $42.42 per share, representing a 30% premium over the last reported sale price of $32.63 on November 3, 2025 [2]. Redemption and Repurchase Rights - The notes are redeemable at IMAX's option starting November 20, 2028, if the last reported sale price exceeds 130% of the conversion price for a specified period [3]. - In the event of a "fundamental change," noteholders may require IMAX to repurchase their notes for cash at the principal amount plus accrued interest [4]. Use of Proceeds - IMAX estimates net proceeds from the offering to be approximately $212 million, or $241.1 million if the additional notes option is fully exercised [5]. - The proceeds will be used to fund the refinancing of outstanding 2026 notes, capped call transactions, and for general corporate purposes [6][7]. Capped Call Transactions - IMAX has entered into capped call transactions to mitigate share dilution, with an initial cap price of $57.1025 per share, representing a 75% premium over the last reported sale price [13][14]. - These transactions are designed to offset potential cash payments required upon conversion of the notes [14]. Market Activity Implications - The unwinding of existing capped call transactions may lead to significant market activity, potentially affecting the market price of IMAX's common shares and the notes [10][11][15][16]. Company Overview - IMAX Corporation is a leader in entertainment technology, operating 1,829 IMAX systems across 89 countries as of September 30, 2025 [18][19].

TeraWulf Inc. announced a proposed private offering of $500 million in convertible senior notes due 2032, with an option for initial purchasers to buy up to an additional $75 million.Net proceeds are intended to fund construction of a data center campus in Abernathy, Texas, and for general corporate purposes. https://t.co/YR2CiR8dSD ...

Core Viewpoint - Energy Fuels has experienced significant stock volatility, with a 222% increase this year followed by a 10.2% drop, as the company plans to raise $550 million through convertible senior notes to fund growth projects [1][2]. Fundraising Effort - Energy Fuels is set to offer $550 million in convertible senior notes due in 2031, which raises concerns about potential share dilution for investors [2]. - The company is currently generating revenue but is operating at a loss, and while it has no existing debt, this allows for financial flexibility to borrow for growth [3]. Project Funding - The proceeds from the fundraising will primarily be used for expanding the rare earth separation circuit at the White Mesa uranium mill and developing the Donald rare earth and heavy mineral sands project in Australia [4]. Share Dilution Mitigation - To minimize share dilution, Energy Fuels plans to engage in capped-call transactions with the note buyers, allowing the company to limit the number of shares issued upon conversion [5]. Market Response - Following the announcement, Energy Fuels' stock showed signs of recovery, with a decrease of only about 4% by noon, indicating investor interest may be stabilizing the stock [6]. - The company holds substantial uranium inventory, positioning it favorably in anticipation of rising uranium prices, especially with supportive policies from the current administration [6].

Financing - Cipher Mining 将发行 11 亿美元的 0.00% 可转换优先票据，到期日为 2031 年 [1] Strategy - Cipher Mining 计划将募集资金用于数据中心建设和高性能计算（HPC）战略 [1]

Core Viewpoint - Cohu, Inc. plans to offer $200 million in convertible senior notes due 2031 in a private offering aimed at qualified institutional buyers [1] Company Summary - Cohu, Inc. is a global supplier of equipment and services that enhance semiconductor manufacturing yield and productivity [1]

Core Viewpoint - Camtek Ltd. has announced a private offering of $425 million in 0.00% Convertible Senior Notes due 2030, which was increased from a previously planned $400 million offering, with an option for initial purchasers to buy an additional $75 million [1][7]. Group 1: Offering Details - The Notes will mature on September 15, 2030, and will not bear regular interest, with no accretion of the principal amount [2]. - The initial conversion rate is set at 9.1455 ordinary shares per $1,000 principal amount, translating to an initial conversion price of approximately $109.34 per share, representing a 30.0% premium over the last reported sale price on September 11, 2025 [3]. - Camtek may redeem the Notes under specific conditions, including tax-related events or if the share price exceeds 130% of the conversion price for a specified period [4]. Group 2: Repurchase and Use of Proceeds - The company intends to use the net proceeds to repurchase approximately $167.1 million of its 0% senior convertible notes due 2026 for about $267.0 million in cash, with the remainder allocated for general corporate purposes, including potential acquisitions and research and development [7]. - Holders of the Notes may require Camtek to repurchase their Notes for cash if certain corporate events occur, with the repurchase price equal to 100% of the principal amount plus any accrued interest [5]. Group 3: Company Overview - Camtek is a developer and manufacturer of high-end inspection and metrology equipment for the semiconductor industry, serving leading global IDMs, OSATs, and foundries [10]. - The company operates manufacturing facilities in Israel and Germany, with a focus on advanced semiconductor market segments [10].

Core Viewpoint - Enovix Corporation has announced a private placement of $300 million in 4.75% Convertible Senior Notes due 2030, with an option for initial purchasers to buy an additional $60 million in notes, aimed at funding corporate purposes and potential acquisitions [1][2][4]. Group 1: Offering Details - The offering consists of $300 million aggregate principal amount of 4.75% Convertible Senior Notes due 2030, expected to close on September 15, 2025 [1][2]. - The notes will accrue interest at a rate of 4.75% per year, payable semiannually starting March 15, 2026, and will mature on September 15, 2030 [3]. - Enovix estimates net proceeds from the offering to be approximately $290.4 million, or $348.6 million if the additional notes option is fully exercised [4]. Group 2: Use of Proceeds - Approximately $37.7 million of the net proceeds will be allocated to capped call transactions, with the remainder intended for general corporate purposes, including potential acquisitions [4]. - The company is evaluating potential acquisition targets in the battery ecosystem that could enhance market adoption of its technology, although no commitments currently exist [4]. Group 3: Conversion and Redemption Terms - The notes are convertible into cash, shares of Enovix common stock, or a combination thereof, with an initial conversion rate of 89.2160 shares per $1,000 principal amount, representing a conversion price of approximately $11.21 per share [5]. - Enovix may redeem the notes starting September 20, 2028, under certain conditions, at a redemption price equal to 100% of the principal amount plus accrued interest [6]. Group 4: Capped Call Transactions - Enovix has entered into capped call transactions to offset potential dilution from the notes, with cap prices set at various levels over the next 36 months [9][10]. - The capped call transactions are designed to mitigate the dilutive impact of the notes, although they will not fully offset the actual dilution upon conversion [9][10]. Group 5: Market Impact - The establishment of hedges related to the capped call transactions may influence the market price of Enovix common stock and the trading price of the notes [11][12].

Core Viewpoint - Nova intends to offer $500 million of 0.00% Convertible Senior Notes due 2030 in a private offering to qualified institutional buyers, with an option for an additional $75 million [1][2] Group 1: Offering Details - The Notes will be senior, unsecured obligations of Nova, maturing on September 15, 2030, and will not bear regular interest [2] - The initial conversion price and other terms will be determined at the time of pricing [2] - The Notes will be convertible into cash, ordinary shares, or a combination thereof, with the form of consideration determined at Nova's election [2] Group 2: Redemption and Repurchase - Nova may redeem the Notes under certain conditions, including tax-related events and if the share price exceeds 130% of the conversion price for a specified period [3] - In the event of a 'fundamental change,' noteholders may require Nova to repurchase their Notes for cash at the principal amount plus any accrued interest [4] Group 3: Capped Call Transactions - Nova plans to enter into capped call transactions to cover the number of shares underlying the Notes, which will help reduce potential dilution upon conversion [5] - The Option Counterparties may engage in derivative transactions that could affect the market price of Nova's ordinary shares and the Notes [6][7] Group 4: Use of Proceeds - A portion of the net proceeds from the Offering will be used to pay for capped call transactions, with the remainder allocated for general corporate purposes, including potential mergers and acquisitions [8] Group 5: Company Overview - Nova is a leading provider of advanced metrology and process control solutions in semiconductor manufacturing, delivering high-performance solutions for effective process control [11] - The company is traded on Nasdaq under the ticker symbol NVMI [12]