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HIVE Digital Announces Closing of Private Offering of US$115 Million of 0% Exchangeable Senior Notes Due 2031
This news release constitutes a "designated news release" for the purposes of the Company's prosp...
About this update from Hive Digital Technologies Ltd
[{"type":"text","content":"HIVE Digital Announces Closing of Private Offering of US$115 Million of 0% Exchangeable Senior Notes Due 2031This news release constitutes a \"designated news release\" for the purposes of the Company's prospectus supplement dated November 25, 2025 to its short form base shelf prospectus dated October 31, 2025.San Antonio, Texas--(Newsfile Corp. - April 21, 2026) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (BVC: HIVECO) (the \"Company\" or \"HIVE\"), today announced that HIVE Bermuda 2026 Ltd., its wholly-owned subsidiary (the \"Issuer\") has closed its private offering (the \"Offering\") of US$115 million aggregate principal amount of 0% exchangeable senior notes due 2031 (the \"Notes\") to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the \"Securities Act\"). The Offering included the exercise in full of the initial purchasers' option to purchase an additional US$15 million aggregate principal amount of Notes (the \"Option\").Frank Holmes, Executive Chairman of HIVE stated, \"We are very pleased with the outcome of this offering. We believe the results are outstanding, as the strong demand for this offering led to an upsized deal while maintaining a 0% coupon and the strong conversion premium of 125% with the capped call.\"Aydin Kilic, President & CEO of HIVE added, \"These exchangeable senior notes bring a new class of institutional investors to HIVE, and we welcome the additional liquidity. We believe zero-interest rate debt signals the confidence investors have in our ability to drive the value of HIVE shares to realize the exchangeable premium of these notes. This minimizes dilution while positioning HIVE with a low cost of capital to realize its 2026 growth targets for AI infrastructure.\"The Notes will mature on April 15, 2031, unless earlier repurchased, redeemed or exchanged. Prior to January 15, 2031, the Notes will be exchangeable only upon satisfaction of certain conditions and during certain periods, and thereafter, the Notes will be exchangeable at the option of holders at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. The Issuer may settle exchanges of the Notes in cash, common shares (\"Common Shares\") of HIVE or a combination of cash and Common Shares, at its election. Th...