Financial Wire

HIVE Falls After Hours As Unit Plans US$75 Million 0% Exchangeable Notes Offering

-- HIVE Digital Technologies (HIVE.V, HIVE) was last seen down 9.3% in after-hours Nasdaq trade after the company on Wednesday said its HIVE Bermuda 2026 subsidiary intends to offer US$75 million of 0% exchangeable senior notes due 2031 in a private placement to qualified institutional buyers.

The company said the initial purchasers will have an option, exercisable within 13 days from issuance, to purchase up to an additional US$15 million aggregate principal amount of notes.

Net proceeds will be used to subscribe for shares of one or more of HIVE's direct or indirect subsidiaries, which will in turn use the funds for general corporate purposes, capital investment and data center development.

The company's shares dropped US$0.23 at last look to US$2.24 after hours. They closed up $0.07 at $3.40 on the TSX Venture Exchange.

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