HIVE prices upsized $115M exchangeable notes offering

* HIVE Digital Technologies (HIVE [https://seekingalpha.com/symbol/HIVE]) price [https://seekingalpha.com/pr/20565041-hive-announces-upsizing-and-pricing-of-private-offering-of-us-115-million-of-0-percent]d an upsized private offering of $115M of 0% exchangeable senior notes due 2031, increasing the deal size from the previously announced $100M.
* The underwriters have a 13-day option to buy additional $15M notes.
* The offering is expected to close on June 30.
* The initial exchange price is approximately US$4.83 per share, representing a 27.5% premium to HIVE's Nasdaq closing price on June 25.
* The issuer expects net proceeds of about $110M, or ~$124.5M if the full ~$15M option is exercised.
* The proceeds will be used to fund HIVE subsidiaries for general corporate purposes, capital investments including graphics processing units (GPUs), and data center development. A portion of the proceeds may also reimburse HIVE for the cost of capped call transactions intended to reduce potential share dilution from the notes.

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