Keel Infrastructure Corp. Issues $458 Million Convertible Senior Notes

Summary

Keel Infrastructure Corp. has issued $458 million aggregate principal amount of 1.250% Convertible Senior Notes due 2032. The notes were issued pursuant to an indenture and are convertible into the company's common stock. A portion of the net proceeds was used to fund capped call transactions to offset potential dilution upon conversion of the notes. The remaining net proceeds will be used for general corporate purposes, including funding deposits for long-lead equipment and/or collateralizing letters of credit related to expanding and/or accelerating data center development projects.