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
News Market Reaction – WYFI
On the day this news was published, WYFI declined 3.86%, reflecting a moderate negative market reaction. Argus tracked a trough of -7.3% from its starting point during tracking. Our momentum scanner triggered 8 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $24M from the company's valuation, bringing the market cap to $591M at that time.
Data tracked by StockTitan Argus on the day of publication.
WhiteFiber received aggregate gross proceeds of
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 17th 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:
Media Contact:
Jo Anne McCusker
JAM Strategic Communications
joanne@jam-comms.com
(917) 740-9499
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SOURCE WhiteFiber, Inc.
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