CoreWeave Completes $4.2 Billion Convertible Notes Offering Due 2033
On September 22, 2026, CoreWeave completed a private offering of $4.2 billion in 2.875% convertible senior notes due April 1, 2033, including $500 million from the full exercise of the initial purchasers' option. The notes are senior unsecured obligations, guaranteed by certain subsidiaries, and can be settled in cash, shares or a combination, at CoreWeave's election. For shareholders, the notes add debt and could dilute holders on conversion, with up to 52,578,540 shares issuable at the maximum conversion rate, while capped call transactions are intended to reduce that dilution.
Key points
- Notes total $4.2 billion, including $500 million from the full exercise of the initial purchasers' option; they bear 2.875% interest, payable April 1 and October 1, beginning April 1, 2027.
- Initial conversion price is approximately $97.85 per share, a premium of about 22.50% over the September 17, 2026 last reported sale price of $79.88.
- A maximum of 52,578,540 Class A shares may be issued on full conversion, based on the maximum conversion rate of 12.5187 shares per $1,000 principal amount.
- CoreWeave may redeem the notes for cash from April 5, 2030 under certain conditions; holders may require repurchase at par plus accrued interest after a fundamental change.
The filing
Written by AI on Nov 8, 2026, 1:10 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 22, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.