Keel Infrastructure announces $350M convertible notes offering to fund data center expansion

Filed June 4, 2026 · Period ending June 4, 2026 · ~1 min read

Key Changes

• high

  Company intends to offer $350 million in convertible senior notes due 2032, guaranteed by subsidiary Bitfarms, with initial purchasers holding a 13-day option for an additional $58 million.

  Item 8.01 verify on EDGAR →
• high

  Proceeds will fund capped call transactions to reduce dilution and support data center development, including deposits for long-lead equipment and letters of credit for expansion projects.

  Exhibit 99.1 verify on EDGAR →
• medium

  Capped calls target a 100% premium to stock price at pricing, designed to offset dilution from conversions, though counterparty hedging activity could affect stock price and conversion dynamics.

  Exhibit 99.1 verify on EDGAR →