WhiteFiber Announces Exercise in Full of Over-Allotment Option in Initial Public Offering
Rhea-AI Summary
WhiteFiber (NASDAQ: WYFI) announced that underwriters have fully exercised their over-allotment option to purchase an additional 1,406,250 ordinary shares at $17.00 per share, generating additional gross proceeds of $23.9 million.
Following this exercise, the total IPO size increased to 10,781,250 shares with aggregate gross proceeds of $183.3 million. The over-allotment closing is expected on September 4, 2025. The company's shares began trading on Nasdaq Capital Market on August 7, 2025, with B. Riley Securities and Needham & Company serving as joint book-running managers.
Positive
- Successfully raised additional $23.9 million through full exercise of over-allotment option
- Total IPO proceeds reached $183.3 million, indicating strong market demand
- Multiple top-tier investment banks involved in the offering, enhancing credibility
Negative
- Additional shares from over-allotment will cause further dilution for existing shareholders
News Market Reaction – WYFI
In the Sep 3 session, WYFI declined 6.70%, reflecting a notable negative market reaction. Argus tracked a peak move of +4.1% during that session. Our momentum scanner triggered 11 alerts that day, indicating notable trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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 was carved out of Bit Digital, Inc. and now operates as a separate public company.
Investor Contact:
Media Contact:
Jo Anne McCusker
JAM Strategic Communications
joanne@jam-comms.com
(917) 740-9499
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SOURCE WhiteFiber, Inc.