WhiteFiber Inc. priced an upsized $270 million private placement of 5.00% convertible senior notes due 2032, with initial purchasers able to buy up to an additional $40 million, and the stock fell about 26% on Wednesday as investors digested the financing. The AI infrastructure company expects the sale to close on Aug. 21, 2026; prior disclosures said roughly $118.5 million of expected net proceeds would fund concurrent exchanges of $198.15 million of existing 4.500% notes due 2031, with the balance earmarked for data center expansion, GPU servers, energy service agreements, acquisitions, partnerships, working capital and other corporate purposes. The new notes carry an initial conversion rate of 29.5530 shares per $1,000 principal amount, implying a conversion price of about $33.84 per share, a 25% premium to the Aug. 18 close, and become callable for cash from Sept. 6, 2030 if share-price conditions are met. The selloff followed quarterly results showing a 39-cent-per-share loss on $28.84 million of revenue, better than analyst expectations, as cloud services and colocation revenue rose 43% and 173%, respectively.