Existing convertible debt exchanged for equity
Company: Nebius
The claim, verbatim
Exchanged $800 million of existing convertible debt for approximately 15.8 million Class A shares
Source (primary)
Nebius Raises $5.75 Billion Through Convertible Notes To Fund AI Data Centers And GPU Expansion - Pulse 2.0 (-, news_article)
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Quote: “Alongside the offering, Nebius entered into privately negotiated exchange agreements covering $800 million of existing convertible debt. The company will exchange $400 million of its 2% convertible senior notes due 2029 and $400 million of its 3% convertible senior notes due 2031 for approximately 15.8 million Class A shares.”
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Additional evidence
confirms Nebius Raises $5.75 Billion Through Convertible Notes To Fund AI Data Centers And GPU Expansion - Pulse 2.0
Quote: “Alongside the offering, Nebius entered into privately negotiated exchange agreements covering $800 million of existing convertible debt. The company will exchange $400 million of its 2% convertible senior notes due 2029 and $400 million of its 3% convertible senior notes due 2031 for approximately 15.8 million Class A shares.”