CoreWeave Raises $2.6 Billion Through 1.75% Convertible Senior Notes Offering

Davis Polk & Wardwell LLP advised CoreWeave, Inc. in connection with an offering of approximately $2.6 billion aggregate principal amount of 1.75% convertible senior notes due 2031. The offering included approximately $338 million aggregate principal amount of notes issued pursuant to the initial purchasers’ full exercise of their option to purchase additional notes. The notes are convertible into cash, shares of Class A common stock or a combination of cash and Class A common stock. Davis Polk also advised CoreWeave on the related capped call transactions tied to the convertible senior notes offering. CoreWeave delivers a cloud platform of software for accelerated computing, providing enterprises and leading AI labs with cloud solutions. Since 2017 the company has expanded a footprint of data centers across the United States and Europe. Davis Polk & Wardwell LLP represented client CoreWeave, Inc. with a team composed by: capital markets partners Michael Kaplan and Hillary A. Coleman and associates Steven Glendon and Paul M. Sessa; equity derivatives partners Mark M. Mendez and Caitlin L. Wood, counsel Gregory E. Marchesini and associate Richard Stockton Bullitt; partner Corey M. Goodman (tax advice); and partner Pritesh P. Shah (intellectual property advice). All members of the Davis Polk team are based in the firm's New York office.

CoreWeave Raises $2.6 Billion Through 1.75% Convertible Senior Notes Offering

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