CoreWeave Inc., a provider of cloud platform software, announced that it has closed its previously announced private offering of $1.75 billion aggregate principal amount of 9.000% senior notes due 2031 on July 25.
The notes have a maturity date of Feb. 1, 2031, and are guaranteed on a senior unsecured basis by certain wholly owned subsidiaries of CoreWeave.
CoreWeave intends to use the proceeds from the offering for general corporate purposes, including, without limitation, repayment of outstanding indebtedness, and to pay fees, costs and expenses in connection with the offering of the Notes.
The notes and related guarantees were offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended, or to persons other than “U.S. persons” in compliance with Regulation S under the Securities Act.
The notes and related guarantees have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.
CoreWeave’s technology provides enterprises and AI labs with cloud solutions for accelerated computing. Since 2017, CoreWeave has operated a growing footprint of data centers across the U.S. and Europe. Earlier this month, CoreWeave announced that it will commit more than $6 billion to equip a new data center in Lancaster, Pa., purpose-built to power the most cutting-edge AI use case.
CoreWeave shares have risen 188% so far this year to $112.33 on the Nasdaq Global Select Market.
