CoreWeave Finalizes $3.7 Billion Convertible Preferred Bond Price

AI infrastructure company CoreWeave ($CRWV) has finalized the price of its $3.7 billion (approximately 5.11 trillion won) convertible preferred bond issuance. The company announced a 2.875% interest rate bond maturing in 2033. CoreWeave stated that the issuance size was expanded from an initial $3 billion proposal. The conversion price is set at $97.85 per share, 22.5% higher than the Nasdaq Global Select Market closing price of $79.88 on September 17. CoreWeave plans to use approximately $498.8 million of the bond proceeds for capped call transaction costs and the remainder for general corporate purposes. Initial buyers have the option to purchase up to an additional $500 million in bonds, with the issuance and sale scheduled to settle on September 22.