WhiteFiber raises $230M in convertible debt, books $65M in prepayments amid rapid expansion

Filed May 14, 2026 · Period ending March 31, 2026 · ~1 min read

Key Changes

• high

  Issued $230 million in 4.5% convertible notes due 2031, netting $102.5 million after fees and zero-strike call option. Annual interest obligation of $10.4 million represents company's first significant debt financing.

  MD&A: Convertible Debt verify on EDGAR →
• high

  Accounts receivable surged from $23.9M to $91.7M quarter-over-quarter, driven by timing of collections and a new customer with non-recurring charges. Concentration risk if tied to single large customer.

  MD&A: Accounts Receivable verify on EDGAR →
• high

  Deferred revenue jumped $65M to $144.5M on $65.7M in customer prepayments for future cloud and colocation services, providing near-term revenue visibility but creating performance obligations.

  MD&A: Deferred Revenue verify on EDGAR →