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Why Nebius Is Raising $3.7 Billion Just Weeks After Microsoft Deal

Nebius Group N.V. (NASDAQ:NBIS) said Thursday it priced a 1billionofferingofClassAordinarysharesat1 billion offering of Class A ordinary shares at 92.50 per share, with closing expected Sept. 15. Underwriters have a 30-day option to purchase up to an additional 150millionofstock.TheAmsterdambasedcompanyalsopriced150 million of stock. The Amsterdam-based company also priced 2.75 billion in convertible senior notes split between maturities in 2030 and 2032. The offerings are expected to raise nearly $3.7 billion in total proceeds. The company plans to use the funds to expand data center capacit ...