$NBIS just raised $5B with some really strong terms. 🔥 • $3B due 2030 at 0.50% • $2B due 2034 at 4.50% • Conversion prices of $313 and $325 • 40% and 45% conversion premiums • Deal was upsized from $4.5B • $4.94B in net proceeds The notes also accrete to 110% and 125% at maturity, but conversion is still based on the original principal, so this doesn't create extra dilution. tldr; $NBIS just secured $5B to fund its growth at a very low cost, with conversion prices well above the current stock price. Great terms for $NBIS, the ROI on this will be amazing.
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