CoreWeave priced an upsized private offering of $3.7 billion in convertible senior notes due 2033. The company increased the deal size from the previously announced $3.0 billion. These notes carry an annual interest rate of 2.875%.
The initial conversion price is set at approximately $97.85 per share. This figure represents a 22.5% premium over the stock's last reported sale price on September 17, 2026.
Net proceeds are estimated at $3.64 billion. Total proceeds could reach $4.14 billion if initial purchasers exercise their full option to buy additional notes.
CoreWeave will use a portion of the funds for capped call transactions to minimize potential share dilution. The remaining capital will fund general corporate purposes. This move follows an at-the-market stock offering that caused shares to drop over 5% on the day of the announcement.