STOCK TITAN

CoreWeave (CRWV) raises capital with 2032 USD and EUR senior notes

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

CoreWeave, Inc. has completed a major private debt financing by issuing $1,250 million of 9.625% Senior Notes due 2032 and €2,000 million of 8.500% Senior Notes due 2032 to institutional buyers. The company plans to use the proceeds for general corporate purposes, including repaying existing debt and covering fees and expenses.

The notes are unsecured but carry senior guarantees from certain wholly owned subsidiaries that also back CoreWeave’s revolving credit facility. Both series mature on July 15, 2032, with cash interest paid semi-annually each January 15 and July 15, starting January 15, 2027.

CoreWeave may redeem the notes before July 15, 2029 at a make-whole price, or at specified call prices thereafter, and can use up to 40% of each series’ principal to redeem notes with equity offering proceeds. If specified change of control triggering events occur, holders can require repurchase at 101% of principal plus accrued interest. The indentures also include customary covenants limiting additional debt, liens, asset sales, affiliate transactions, dividends and certain mergers or subsidiary designations, as well as standard events of default.

Positive

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Insights

CoreWeave adds substantial high-coupon term debt in USD and EUR.

CoreWeave has raised long-dated capital through $1,250 million of 9.625% USD Senior Notes and €2,000 million of 8.500% EUR Senior Notes, both due 2032. This provides sizable funding with a fixed maturity profile in exchange for relatively high interest costs.

The notes are senior unsecured but guaranteed by key wholly owned subsidiaries that already support the revolving credit facility, and carry typical high-yield covenants restricting additional indebtedness, liens, asset sales, restricted payments and affiliate transactions. These terms help protect noteholders but also constrain future financial flexibility.

Early redemption is permitted, including make-whole calls before July 15, 2029 and equity-funded redemptions of up to 40% of each series, plus a 101% repurchase right upon certain change of control triggering events. Actual impact on leverage, interest coverage and growth capacity will be clearer once future financial disclosures reflect this new capital structure.

Item 1.01 Entry into a Material Definitive Agreement Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial
The company incurred a new significant debt or off-balance-sheet obligation.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
USD Senior Notes size $1,250 million aggregate principal amount Dollar-denominated 9.625% Senior Notes due 2032
EUR Senior Notes size €2,000 million aggregate principal amount Euro-denominated 8.500% Senior Notes due 2032
USD coupon rate 9.625% per annum Interest rate on USD Senior Notes
EUR coupon rate 8.500% per annum Interest rate on EUR Senior Notes
Maturity date July 15, 2032 Final maturity for both Senior Notes series
Change of control put 101% of principal Repurchase price plus accrued interest upon triggering events
Equity-funded redemption capacity Up to 40% of each series Redeemable with net cash proceeds from certain equity offerings before July 15, 2029
Senior Notes Indentures financial
"The EUR Notes Indenture and, together with the USD Notes Indenture, the “Senior Notes Indentures”"
make-whole premium financial
"prior to July 15, 2029 at a redemption price equal to 100% ... plus a make-whole premium"
A make-whole premium is an extra payment a borrower must give bondholders when repaying debt early to compensate them for lost future interest; think of it as a lump-sum “catch-up” to leave lenders financially where they would have been if the loan had run its full term. It matters to investors because it affects how much they receive on early redemption and influences a company’s decision to refinance or repay debt, altering bond value and expected returns.
change of control triggering events financial
"Upon the occurrence of specified kinds of change of control triggering events, holders of the Senior Notes will have the right"
restricted subsidiaries financial
"CoreWeave’s future direct and indirect wholly owned domestic restricted subsidiaries that guarantee CoreWeave’s existing revolving credit facility"
Restricted subsidiaries are parts of a company that are legally limited by its loan or bond agreements from doing things like sending cash up to the parent, selling assets, taking on more debt, or changing their business without permission. Investors care because these limits affect how easily the parent company can use that unit’s money or collateral — like rooms in a house that are locked and unavailable when you need cash or want to refinance — which changes credit risk and financial flexibility.
events of default financial
"The Senior Notes Indentures provide for customary events of default (subject in certain cases to customary grace and cure periods)."
Events of default are specific breaches or failures listed in a loan, bond, or credit agreement that give lenders the right to act, such as demanding immediate repayment, raising interest rates, or taking secured assets. They matter to investors because triggering one is like setting off a financial alarm: it raises the chance of foreclosure, restructuring, or bankruptcy and can sharply reduce the value of a company’s stock or bonds and increase borrowing costs.
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FALSE000176962800017696282026-06-182026-06-18

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________________
FORM 8-K
___________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): June 18, 2026
___________________________________
CoreWeave, Inc.
(Exact name of registrant as specified in its charter)
___________________________________

Delaware

001-42563

82-3060021
(State or other jurisdiction of
incorporation or organization)
(Commission File Number)
(IRS Employer Identification Number)
290 W Mt. Pleasant Ave., Suite 4100
Livingston, NJ
07039
(Address of registrant's principal executive offices)
(Zip Code)
Registrant's telephone number, including area code: (973) 270-9737
___________________________________
Not Applicable
(Former name or former address, if changed since last report)
___________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol
Name of each exchange on which registered
Class A Common Stock, $0.000005 par value per share
CRWV
The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).



Emerging growth company    
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.




Item 1.01 Entry into a Material Definitive Agreement.

Senior Notes Indentures and Senior Notes

On June 18, 2026, CoreWeave, Inc. (“CoreWeave”) completed its previously announced private offering of $1,250 million in aggregate principal amount of its dollar-denominated 9.625% Senior Notes due 2032 (the “USD Notes”) and €2,000 million in aggregate principal amount of its euro-denominated 8.500% Senior Notes due 2032 (the “EUR Notes” and, together with the USD Notes, the “Senior Notes”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The USD Notes were issued pursuant to an indenture, dated as of June 18, 2026 (the “USD Notes Indenture”), by and among CoreWeave, the guarantors party thereto and U.S. Bank Trust Company, National Association, as trustee. The EUR Notes were issued pursuant to an indenture, dated as of June 18, 2026 (the “EUR Notes Indenture” and, together with the USD Notes Indenture, the “Senior Notes Indentures”), by and among CoreWeave, the guarantors party thereto, U.S. Bank Trust Company, National Association, as trustee, U.S. Bank Europe DAC, as registrar and transfer agent and U.S. Bank Europe DAC, UK Branch, as paying agent.

CoreWeave intends to use the proceeds from the offering of the Senior Notes for general corporate purposes, including, without limitation, repayment of outstanding indebtedness, and to pay fees, costs and expenses in connection with the offering of the Senior Notes.

The Senior Notes will mature on July 15, 2032. The USD Notes will bear interest at a rate of 9.625% per annum, and the EUR Notes will bear interest at a rate of 8.500% per annum, in each case, payable semi-annually in cash in arrears on January 15 and July 15 of each year, beginning on January 15, 2027. Interest on the Senior Notes will accrue from June 18, 2026.

The Senior Notes are guaranteed on a senior unsecured basis by certain wholly-owned subsidiaries of CoreWeave and certain of CoreWeave’s future direct and indirect wholly owned domestic restricted subsidiaries that guarantee CoreWeave’s existing revolving credit facility.

CoreWeave may redeem all or a portion of the Senior Notes at any time prior to July 15, 2029 at a redemption price equal to
100% of the aggregate principal amount thereof, plus a make-whole premium, together with accrued and unpaid interest, if any, to, but excluding, the redemption date. CoreWeave may redeem all or a portion of the Senior Notes at any time on or after July 15, 2029 at the redemption prices set forth in the applicable Senior Notes Indenture. At any time prior to July 15, 2029, up to 40% of the aggregate principal amount of the applicable series of Senior Notes may be redeemed with the net cash proceeds from certain equity offerings, at the redemption price specified in the applicable Senior Notes Indenture.

Upon the occurrence of specified kinds of change of control triggering events, holders of the Senior Notes will have the right to require CoreWeave to repurchase the Senior Notes at a purchase price equal to 101% of the principal amount plus accrued and unpaid interest, if any, to, but excluding, the repurchase date.

The Senior Notes Indentures limit, among other things, the ability of CoreWeave and its restricted subsidiaries to (i) incur or guarantee additional indebtedness or issue disqualified stock or certain preferred stock; (ii) pay dividends on or make other distributions in respect of equity interests or make other restricted payments; (iii) create liens on certain assets to secure indebtedness; (iv) make certain investments; (v) sell certain assets; (vi) enter into certain transactions with CoreWeave’s affiliates; (vii) merge or consolidate with other persons or sell or otherwise dispose of all or substantially all of CoreWeave’s assets; and (viii) designate CoreWeave’s restricted subsidiaries as unrestricted subsidiaries. These covenants are subject to a number of important limitations and exceptions that are set forth in the Senior Notes Indentures. The Senior Notes Indentures provide for customary events of default (subject in certain cases to customary grace and cure periods).

The foregoing summary of the Senior Notes Indentures and the Senior Notes does not purport to be complete and is qualified in its entirety by reference to the complete terms of the USD Notes Indenture and the USD Notes, which are filed as Exhibits 4.1 and 4.2 hereto, and the EUR Notes Indenture and the EUR Notes, which are filed as Exhibits 4.3 and 4.4 hereto, respectively, and incorporated by reference into this Item 1.01.







Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information described above under Item 1.01 is incorporated into this Item 2.03 by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.

Exhibit No.
Description
4.1
Indenture, dated as of June 18, 2026, by and among CoreWeave, the guarantors party thereto and U.S. Bank Trust Company, National Association, as trustee, governing the 9.625% Senior Notes due 2032
4.2
Form of 9.625% Senior Notes due 2032 (included as Exhibit A to Exhibit 4.1).
4.3
Indenture, dated as of June 18, 2026, by and among CoreWeave, the guarantors party thereto, U.S. Bank Trust Company, National Association, as trustee, U.S. Bank Europe DAC, as registrar and transfer agent, and U.S. Bank Europe DAC, UK Branch, as paying agent, governing the 8.500% Senior Notes due 2032
4.4
Form of 8.500% Senior Notes due 2032 (included as Exhibit A to Exhibit 4.3).
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).



SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: June 18, 2026

COREWEAVE, INC.
By:
/s/ Michael Intrator
Name:
Michael Intrator
Title:
Chief Executive Officer

FAQ

What debt financing did CoreWeave (CRWV) complete in June 2026?

CoreWeave completed a private offering of $1,250 million 9.625% Senior Notes and €2,000 million 8.500% Senior Notes, both due 2032. The notes were sold to qualified institutional buyers and are governed by separate USD and EUR indentures.

What are the interest rates and maturity of CoreWeave’s new Senior Notes?

The USD Senior Notes bear 9.625% interest and the EUR Senior Notes bear 8.500% interest, both maturing July 15, 2032. Interest is payable semi-annually in cash on January 15 and July 15 each year, starting January 15, 2027.

How will CoreWeave (CRWV) use the proceeds from the Senior Notes offering?

CoreWeave intends to use the Senior Notes proceeds for general corporate purposes, including repayment of outstanding indebtedness. The funds will also cover fees, costs and expenses associated with completing the notes offering and related documentation.

Can CoreWeave redeem the new Senior Notes before maturity?

CoreWeave may redeem all or part of the Senior Notes before July 15, 2029 at 100% of principal plus a make-whole premium and accrued interest. After July 15, 2029, redemption is allowed at specified prices detailed in each notes indenture.

What protections do holders of CoreWeave’s Senior Notes have on change of control?

If specified change of control triggering events occur, each Senior Note holder can require CoreWeave to repurchase their notes at 101% of principal plus accrued and unpaid interest. This give investors a contractual exit if control of the company changes in defined ways.

What key covenants are included in CoreWeave’s Senior Notes indentures?

The indentures limit CoreWeave’s and its restricted subsidiaries’ ability to incur additional debt, create certain liens, pay dividends, make restricted payments, sell assets, enter affiliate transactions, merge or dispose of substantially all assets, and reclassify restricted subsidiaries, subject to important exceptions.

Filing Exhibits & Attachments

5 documents