Nebius Group raises $4.2 billion through stock and convertible notes offerings

Nebius Group N.V. (NASDAQ: NBIS) completed its public offering of 10,810,811 Class A ordinary shares at $92.50 per share and a private offering of convertible senior notes, generating approximately $4.2 billion in gross proceeds.

The Amsterdam-based AI infrastructure company sold the shares through an underwritten public offering, with underwriters holding a 30-day option to purchase up to an additional 1,621,621 Class A shares at the same price. Goldman Sachs served as lead book-running manager, with Morgan Stanley, BofA Securities and Citigroup as additional book-running managers.

The company also closed its private offering of convertible senior notes in two series: 1.00% notes due 2030 and 2.75% notes due 2032. Initial purchasers exercised their option to purchase additional notes, bringing the aggregate principal amount of each series to approximately $1.58 billion, for a total of approximately $3.16 billion.

Nebius Group stated it plans to use proceeds to finance business growth, including acquiring additional compute power and hardware, securing land plots, expanding its data center footprint, and general corporate purposes. The company also expects to finance capital expenditures related to its agreement with Microsoft through a combination of cash flows and debt secured against the contract and related infrastructure.

The Class A shares were offered through a shelf registration statement filed with the Securities and Exchange Commission. The convertible notes were sold to qualified institutional buyers under Rule 144A of the Securities Act of 1933.

Nebius Group operates an AI-native cloud platform and has additional businesses including Avride, which develops autonomous driving technology, and TripleTen, an education technology company. The company maintains research and development hubs across Europe, North America and Israel.

You May Also Be Interested In

• AiRWA receives Nasdaq deficiency notice over late 10-K filing
• Lucas GC sets 125-for-1 share consolidation effective Sept. 1
• Mint Incorporation closes $2.5M registered direct offering