Convertible Senior Notes
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Nebius Group Announces Closing of Private Offering of Convertible Senior Notes, With Aggregate Gross Proceeds of Approximately $4.3 Billion
Businesswire· 2026-03-23 07:31
Group 1 - Nebius Group N.V. has successfully closed its offering of convertible senior notes, which includes two series: 1.250% convertible notes due 2031 and 2.625% convertible notes due 2033 [1] - The offering was conducted as a private placement to qualified institutional buyers under Rule 144A of the Securities Act [1] - The issuance of these notes is part of Nebius Group's strategy to enhance its capital structure and support its growth initiatives in the AI infrastructure sector [1]
Ormat Technologies, Inc. Announces Pricing of Upsized Offering of $725 Million of Series A Convertible Senior Notes and $150 Million of Series B Convertible Senior Notes
Globenewswire· 2026-03-18 05:00
Core Viewpoint - Ormat Technologies, Inc. has announced the pricing of private offerings totaling $725 million for Series A Convertible Senior Notes and $150 million for Series B Convertible Senior Notes, with the offering size increased from a previously announced $750 million [1] Group 1: Offering Details - The Series A Notes will accrue interest at 1.50% per year, payable semiannually starting September 15, 2026, while the Series B Notes will not bear regular interest [2] - Both series of Notes will mature on March 15, 2031, unless converted, redeemed, or repurchased earlier [2] - The initial conversion rate for both Series A and Series B Notes is set at 7.1225 shares of common stock per $1,000 principal amount, equating to a conversion price of approximately $140.40 per share, representing a 30% premium over the last reported sales price on March 17, 2026 [3] Group 2: Use of Proceeds - The estimated net proceeds from the sale of the Notes are approximately $853.6 million, which could increase to $975.7 million if the initial purchasers fully exercise their options [5] - The Company plans to use about $287.9 million of the net proceeds to repurchase approximately $285.9 million of its 2.50% convertible senior notes due 2027, alongside $25 million in cash on hand [5][8] - An additional $25 million of the net proceeds will be allocated for share repurchases at a price of $108.00 per share, which is the last reported sales price on March 17, 2026 [6] Group 3: Company Overview - Ormat Technologies is a leading geothermal company with over five decades of experience, focusing on geothermal and recovered energy generation [11] - The Company operates a total generating portfolio of 1,835 MW, including 1,340 MW from geothermal and solar generation, and a 495 MW energy storage portfolio located in the U.S. [11]
Ormat Technologies, Inc. Announces Proposed Offering of $600 Million of Series A Convertible Senior Notes and $150 Million of Series B Convertible Senior Notes
Globenewswire· 2026-03-17 20:04
RENO, Nev., March 17, 2026 (GLOBE NEWSWIRE) -- Ormat Technologies, Inc. (NYSE: ORA) (“Company” or “Ormat”) announced today its intention to offer $600 million aggregate principal amount of Series A Convertible Senior Notes due 2031 (the “Series A Notes”) and $150 million aggregate principal amount of Series B Convertible Senior Notes due 2031 (the “Series B Notes” and, together with the Series A Notes, the “Notes”) in private offerings to persons reasonably believed to be qualified institutional buyers purs ...
Nebius Group Announces Proposed Private Offering of $3.75 Billion of Convertible Senior Notes
Businesswire· 2026-03-17 12:44
AMSTERDAM--(BUSINESS WIRE)--Nebius Group N.V. ("Nebius Group†or the "Company†; NASDAQ: NBIS), a leading AI infrastructure company, today announced its intention to offer, subject to market and other conditions, $3.75 billion aggregate original principal amount of convertible senior notes, in two series: $2.0 billion aggregate original principal amount of convertible notes due 2031 (the "2031 Notes†) and $1.75 billion aggregate original principal amount of convertible notes due 2033 (the "2033. ...
Itron Prices Upsized $700.0 Million 0.00% Convertible Senior Notes Offering
Globenewswire· 2026-02-24 02:59
Core Viewpoint - Itron, Inc. has announced a private offering of $700 million in 0.00% convertible senior notes due 2032, increasing from a previously announced $600 million, with an option for initial purchasers to buy an additional $105 million [1][7] Group 1: Offering Details - The notes will not bear regular interest and will mature on March 15, 2032, unless converted, redeemed, or repurchased earlier [2] - The initial conversion rate is set at 8.0793 shares per $1,000 principal amount, equating to a conversion price of approximately $123.77 per share, which is a 30% premium over the last reported sale price of $95.21 on February 23, 2026 [2] - The notes can be converted by holders only during specific periods before December 15, 2031, and at any time thereafter until the maturity date [2] Group 2: Redemption and Repurchase - The notes are redeemable at the company's option starting March 20, 2030, if the stock price exceeds 130% of the conversion price for a specified period [3] - Holders can require the company to repurchase their notes at 100% of the principal amount plus any accrued interest upon a "fundamental change" [3] Group 3: Capped Call Transactions - The company has entered into capped call transactions to reduce potential dilution upon conversion of the notes, with an initial cap price of $190.42 per share [4] - These capped call transactions may lead to increased market price volatility for the common stock and the notes [5][6] Group 4: Use of Proceeds - The company estimates net proceeds from the offering to be approximately $681.1 million, which may increase to $783.3 million if the option for additional notes is fully exercised [7] - Approximately $80.7 million of the proceeds will be used for capped call transaction costs, and $100 million will be allocated for repurchasing 1,050,309 shares of common stock [7] - Remaining proceeds will be used for repaying existing convertible senior notes due 2026 and for general corporate purposes [7]
CenterPoint Energy, Inc. Announces Pricing of Upsized Offering of $600 Million of 2.875% Convertible Senior Notes Due 2029
Businesswire· 2026-02-24 02:58
Core Viewpoint - CenterPoint Energy, Inc. has successfully priced its offering of $600 million in 2.875% Convertible Senior Notes due 2029, increasing the offering size from the previously announced $550 million [1] Group 1: Offering Details - The offering consists of $600 million aggregate principal amount of convertible notes [1] - The notes are due in 2029 and carry an interest rate of 2.875% [1] - The private placement is made to qualified institutional buyers under Rule 144A of the Securities Act of 1933 [1]
Bitdeer Announces Pricing of Upsized US$325.0 Million Convertible Senior Notes Offering
Globenewswire· 2026-02-20 12:00
Core Viewpoint - Bitdeer Technologies Group has announced the pricing of a US$325 million offering of 5.00% Convertible Senior Notes due 2032, increasing from the previously announced US$300 million, with an option for initial purchasers to buy an additional US$50 million [1][2] Group 1: Convertible Notes Offering - The notes will accrue interest at a rate of 5.00% per year, payable semiannually starting September 1, 2026, and maturing on March 1, 2032 [2] - The initial conversion rate is set at 100.7557 Class A ordinary shares per US$1,000 principal amount, equating to an initial conversion price of approximately US$9.93 per share, representing a 25% premium over the offering price [2] - Bitdeer may redeem the notes for cash starting March 6, 2030, under certain conditions, including if the Class A ordinary shares trade at least 130% of the conversion price for 20 trading days [3][4] Group 2: Use of Proceeds - Bitdeer estimates net proceeds from the notes offering to be approximately US$315.1 million, or US$363.7 million if the option for additional notes is fully exercised [7] - The proceeds will be used to cover costs related to capped call transactions, repurchase existing convertible senior notes, and fund datacenter expansion, HPC and AI cloud business expansion, and ASIC mining rig development [7] Group 3: Capped Call Transactions - Bitdeer has entered into capped call transactions to offset potential dilution from the conversion of the notes, with an initial cap price of US$15.88 per Class A ordinary share [8][9] - The capped call transactions are designed to mitigate the impact of any conversion on the market price of the Class A ordinary shares [8] Group 4: Concurrent Registered Direct Offering - Bitdeer has also announced a registered direct offering of 5,503,030 Class A ordinary shares at US$7.94 per share, with settlement scheduled for February 26, 2026 [12] - The net proceeds from this offering will be used in conjunction with the notes offering to repurchase US$135 million of its November 2029 notes for approximately US$138.2 million [12]
Energy Vault Announces Upsize and Pricing of $140 Million Convertible Senior Notes Offering
Businesswire· 2026-02-12 04:53
Core Viewpoint - Energy Vault Holdings, Inc. has announced the pricing of $140.0 million in convertible senior notes, indicating a strategic move to raise capital for its sustainable energy storage solutions [1] Group 1: Financial Details - The company priced $140.0 million aggregate principal amount of 5.250% convertible senior notes due 2031 [1] - The offering was conducted as a private placement to qualified institutional buyers under Rule 144A of the Securities Act of 1933 [1] - The offering was upsized, reflecting strong demand from investors [1]
BridgeBio Prices Offering of $550 Million Convertible Senior Notes due 2033 to Prefund Repayment of Convertible Senior Notes due 2027
Globenewswire· 2026-01-16 06:00
Core Viewpoint - BridgeBio Pharma, Inc. has announced the pricing of $550 million in 0.75% convertible senior notes due 2033, aimed at raising funds for various corporate purposes, including repurchasing existing convertible notes and shares [1][3][8]. Group 1: Offering Details - The offering consists of $550 million aggregate principal amount of 0.75% convertible senior notes, with an option for initial purchasers to buy an additional $82.5 million [1][2]. - The expected net proceeds from the sale are approximately $538.4 million, or $619.3 million if the option is fully exercised [2]. - The notes will bear interest at a rate of 0.75% per year, payable semi-annually, and will mature on February 1, 2033 [5][8]. Group 2: Use of Proceeds - The net proceeds will be used to repurchase or settle obligations related to the Company's 2.50% convertible senior notes due 2027 and for general corporate purposes [3]. - Approximately $82.5 million of cash on hand will be used to repurchase about 1.1 million shares of common stock from certain purchasers of the notes [4]. Group 3: Conversion and Redemption Terms - The initial conversion rate is set at 9.0435 shares per $1,000 principal amount of notes, equating to an initial conversion price of approximately $110.58 per share, representing a 45% premium over the last reported sale price of $76.26 [6][8]. - The Company may redeem the notes starting February 6, 2030, under certain conditions, at a redemption price equal to 100% of the principal amount plus accrued interest [7][10]. Group 4: Company Overview - BridgeBio Pharma is focused on developing transformative medicines for genetic diseases, with a pipeline that includes early science to advanced clinical trials [13].
CANADIAN SOLAR ANNOUNCES CLOSING OF OFFERING OF US$230 MILLION CONVERTIBLE SENIOR NOTES DUE 2031
Prnewswire· 2026-01-13 14:30
Core Viewpoint - Canadian Solar Inc. has successfully closed a private offering of US$230 million in convertible senior notes, with net proceeds of approximately US$223.1 million after expenses [1][2]. Group 1: Offering Details - The offering included US$230 million aggregate principal amount of 3.25% convertible senior notes due 2031, with an additional US$30 million purchased by initial buyers [1]. - The notes were offered to qualified institutional buyers under Rule 144A of the Securities Act [1]. Group 2: Company Overview - Canadian Solar is a leading global solar technology and renewable energy company, founded in 2001 and headquartered in Kitchener, Ontario [4]. - The company has delivered nearly 170 GW of solar photovoltaic modules globally and has a contracted backlog of $3.1 billion in battery energy storage solutions as of October 31, 2025 [4]. - Canadian Solar has developed approximately 12 GWp of solar power projects and 6 GWh of battery energy storage projects since entering the project development business in 2010 [4]. - The company has a diversified project development pipeline with 25 GWp of solar and 81 GWh of battery energy storage capacity in various stages of development [4].