WhiteFiber, a carve-out of Bit Digital that operates data centers to provide cloud services, raised $159 million by offering 9.4 million shares at $17, the high end of the range of $15 to $17. The company originally planned to offer 7.8 million shares. At pricing, the company commands a fully-diluted market cap of $619 million.
WhiteFiber calls itself a leading provider of artificial intelligence (AI) infrastructure solutions, stating that its high-performance computing (HPC) data centers provide cloud-based services that rely on NVIDIA GPUs. The company expanded significantly last year with its acquisition of Canada-based Enovum for C$63 million, and this year has expanded its Montreal-area operations, in addition to recent plans to build out a North Carolina data center.
WhiteFiber plans to list on the Nasdaq under the symbol WYFI. B. Riley Securities, Needham & Co., and Macquarie Capital acted as joint bookrunners on the deal.
