Nebius Group N.V. (NASDAQ:NBIS) said Thursday it priced a $1 billion offering of Class A ordinary shares at $92.50 per share, with closing expected Sept. 15. Underwriters have a 30-day option to purchase up to an additional $150 million of stock.
The Amsterdam-based company also priced $2.75 billion in convertible senior notes split between maturities in 2030 and 2032. The offerings are expected to raise nearly $3.7 billion in total proceeds.
The company plans to use the funds to expand data center capacity, secure land with reliable power access, and acquire more compute hardware. The remaining proceeds will go toward general corporate purposes.
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The debt raise includes $1.375 billion each of 1.00% notes due 2030 and 2.75% notes due 2032. Purchasers have the option to buy up to $412.5 million more in combined notes, underscoring strong demand for the securities
The move follows a sharp rally in Nebius shares after the company unveiled a $17.4 billion contract with Microsoft Corp. (NASDAQ:MSFT) to supply GPU infrastructure capacity from its new Vineland, New Jersey, data center over a five-year period.
The phased rollout runs through 2026, with options that could lift the value to $19.4 billion, giving Nebius fresh cash flow to fund expansion and cementing its role in large-scale AI infrastructure.
Nebius said the agreement will generate cash flow to help fund related capital expenditures, positioning the company as a critical infrastructure partner for large-scale AI projects and bolstering investor confidence in its long-term expansion.
Price Action: At last check Thursday, NBIS shares were trading higher by 2.01% to $95.27 premarket.
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