Our Client, HIVE Digital Technologies Ltd, Closes $130 Million Exchangeable Senior Note Offering

Jul 1, 2026 | Events

Kavinoky Cook congratulates our client, HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (BVC: HIVECO) and its subsidiary, HIVE Bermuda 2026 Ltd., on successfully closing an institutional placement of $115 million in 0% exchangeable senior notes. We acted as U.S. counsel to HIVE. The offering was upsized from an originally announced $75 million, based upon strong institutional demand. HIVE also entered into capped call transactions designed to minimize shareholder dilution upon exchange. Net proceeds of approximately $109.5 million will be deployed toward general corporate purposes, capital investment, and data center development across HIVE's Canadian, Swedish and Paraguayan operations. The transaction provides HIVE with low-cost capital to execute its 2026 growth targets in AI infrastructure. For more information, see HIVE Digital's full announcement: HIVE Digital Announces Closing of Private Offering of US$115 Million of 0% Exchangeable Senior Notes Due 2031

We are happy to have represented our our client, HIVE Digital Technologies Ltd. (TSX: HIVE) (NASDAQ: HIVE) (BVC: HIVECO) (FSE: YOO.F) and its subsidiary, HIVE Bermuda 2026 Ltd., on successfully completing a second  institutional private placement of $130 million in 0% exchangeable senior notes.   This is the second such institutional private placement carried out by HIVE in just over two months.  The closing occurred on June 30, 2026.

The offering was upsized from an originally announced $100 million, based upon strong institutional demand. In connection with the transaction, HIVE also entered into capped call transactions designed to minimize shareholder dilution upon exchange.

Proceeds from the offering will be deployed toward general corporate purposes, capital investment, and data center development across HIVE’s Canadian, Swedish, and Paraguayan operations. The transaction provides HIVE with low-cost capital to execute its 2026 growth targets in AI infrastructure

For more information, see HIVE Digital’s full announcement: https://www.hivedigitaltechnologies.com/news/hive-announces-closing-of-private-offering-of-130-million-of-0-exchangeable-senior-notes-due-2031-2/

The Kavinoky team advising HIVE included Jonathan Gardner and Danielle Fahey.

 

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