WhiteFiber Announces Closing of Upsized Initial Public Offering

Rhea-AI Summary

WhiteFiber (NASDAQ:WYFI) has successfully completed its upsized initial public offering (IPO), raising $159.4 million in gross proceeds. The company offered 9,375,000 ordinary shares at $17.00 per share.

Trading of WhiteFiber's shares commenced on August 7, 2025 on the Nasdaq Capital Market. The underwriters have a 30-day option to purchase up to an additional 1,406,250 ordinary shares at the IPO price, less underwriting discounts and commissions.

The IPO was managed by multiple firms, with B. Riley Securities and Needham & Company serving as joint book-running managers, Macquarie Capital as book-runner, Roth Capital Partners as lead manager, and Craig-Hallum and Clear Street as co-managers.

Positive

• Successfully raised $159.4 million in gross proceeds from IPO
• Upsized offering indicates strong market demand
• Broad underwriter support from multiple reputable financial institutions
• Additional upside potential through 1.4M share underwriter option

Negative

• Potential dilution for future shareholders
• IPO proceeds will be reduced by underwriting discounts and offering expenses

Insights

IPO & Capital Markets Specialist

WhiteFiber raised $159.4M in an upsized IPO at $17/share, marking a successful public market debut despite challenging market conditions.

WhiteFiber has successfully completed its initial public offering, raising $159.4 million in gross proceeds by selling 9,375,000 ordinary shares at $17.00 per share. The offering was described as "upsized," indicating stronger-than-expected investor demand that allowed the company to increase the number of shares offered.

The shares began trading on the Nasdaq Capital Market on August 7 under the ticker symbol "WYFI." Additionally, the company granted underwriters a 30-day option to purchase up to 1,406,250 additional shares at the IPO price, which could potentially generate further capital if exercised.

The IPO was supported by multiple financial institutions, with B. Riley Securities and Needham & Company serving as joint book-running managers, alongside Macquarie Capital as another book-runner. Roth Capital Partners acted as lead manager, while Craig-Hallum and Clear Street participated as co-managers. This multi-bank syndicate suggests a substantial marketing effort to institutional investors.

The successful completion of this IPO during the current market environment demonstrates investor confidence in WhiteFiber's business model and growth prospects. The $159.4 million capital infusion provides the company with significant financial resources to execute its business strategy, potentially fund expansion initiatives, invest in technology development, reduce existing debt, or strengthen its balance sheet position in the competitive landscape.

NEW YORK, Aug. 8, 2025 /PRNewswire/ -- WhiteFiber, Inc. (Nasdaq: WYFI) ("WhiteFiber" or the "Company"), today announced the closing of its upsized initial public offering of 9,375,000 ordinary shares at a public offering price of $17.00 per share. The ordinary shares began trading on The Nasdaq Capital Market on August 7, 2025 under the symbol "WYFI."

WhiteFiber received aggregate gross proceeds of $159.4 million from the initial public offering, before deducting underwriting discounts and commissions and offering expenses. In addition, WhiteFiber granted the underwriters a 30-day option to purchase up to an additional 1,406,250 ordinary shares at the initial public offering price, less underwriting discounts and commissions.

B. Riley Securities and Needham & Company acted as the joint book-running managers for the offering. Macquarie Capital also acted as a book-runner for the offering. Roth Capital Partners acted as lead manager for the offering. Craig-Hallum and Clear Street acted as co-managers for the offering.

A registration statement relating to these securities was filed with the SEC and declared effective on August 6, 2025. The offering was made solely by means of a prospectus. Copies of the final prospectus may be obtained from: B. Riley Securities, 1300 17^th Street North, Suite 1300, Arlington, VA 22209, Attention: Prospectus Department, by telephone at (703) 312-9580 or by email at prospectuses@brileysecurities.com; or from: Needham & Company, LLC, 250 Park Avenue, 10th Floor, New York, NY 10177, Attn: Prospectus Department, prospectus@needhamco.com or by telephone at (800) 903-3268.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About WhiteFiber

WhiteFiber is a provider of artificial intelligence ("AI") infrastructure solutions. WhiteFiber owns high-performance computing data centers and provides cloud services to customers. Our vertically integrated model combines specialized colocation, hosting, and cloud services engineered to maximize performance, efficiency, and margin for generative AI workloads. In connection with this offering, WhiteFiber is being carved out of Bit Digital, Inc. and will operate as a separate public company upon the completion of this offering. 

Investor Contact:

IR@whitefiber.com

Media Contact:
Jo Anne McCusker
JAM Strategic Communications
joanne@jam-comms.com
(917) 740-9499

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SOURCE WhiteFiber, Inc.

FAQ

How much did WhiteFiber (WYFI) raise in its IPO?

WhiteFiber raised $159.4 million in gross proceeds through its IPO, before deducting underwriting discounts and commissions and offering expenses.

What was WhiteFiber's (WYFI) IPO price per share?

WhiteFiber's IPO was priced at $17.00 per share.

When did WhiteFiber (WYFI) stock begin trading on Nasdaq?

WhiteFiber shares began trading on the Nasdaq Capital Market on August 7, 2025 under the symbol 'WYFI'.

How many shares were offered in WhiteFiber's IPO?

WhiteFiber offered 9,375,000 ordinary shares in its IPO, with underwriters having a 30-day option to purchase up to an additional 1,406,250 shares.

Who were the lead underwriters for WhiteFiber's IPO?

B. Riley Securities and Needham & Company acted as the joint book-running managers for the offering.