Joby Aviation closes $591 million stock offering with full underwriter option
AMSTERDAM - Nebius Group N.V. (NASDAQ:NBIS), an AI infrastructure company with a market capitalization of $21.58 billion, announced Monday the completion of its previously announced public offering of 10,810,811 Class A ordinary shares at $92.50 per share, raising approximately $1 billion. The stock has shown remarkable momentum, delivering a 226% return year-to-date according to InvestingPro data.
The company simultaneously closed its private offering of convertible senior notes in two series: 1.00% notes due 2030 and 2.75% notes due 2032. With initial purchasers exercising their option to buy additional notes, the total aggregate principal amount reached approximately $3.16 billion, with each series amounting to about $1.58 billion. InvestingPro analysis shows the company operates with a moderate debt level, maintaining a healthy debt-to-equity ratio of 0.32.
Underwriters of the share offering, led by Goldman Sachs & Co. LLC with Morgan Stanley, BofA Securities, and Citigroup as additional book-running managers, have a 30-day option to purchase up to an additional 1,621,621 Class A shares at the offering price.
Nebius Group plans to use proceeds from these offerings to finance business growth, including acquiring additional compute power and hardware, securing strategic land plots, expanding its data center footprint, and for general corporate purposes.
The company also expects to finance capital expenditures associated with its recently announced agreement to provide AI infrastructure to Microsoft through a combination of cash flows under the arrangement and secured debt issuance.
Headquartered in Amsterdam and listed on Nasdaq, Nebius Group operates an AI-native cloud platform built for intensive AI workloads, with proprietary software and hardware designed in-house. The company also has stakes in other businesses including autonomous driving technology developer Avride, edtech company TripleTen, and equity positions in ClickHouse and Toloka. With a current P/E ratio of 109.8 and impressive revenue growth of 106% in the last twelve months, the company’s valuation reflects high growth expectations. For detailed analysis and 16 additional key insights about NBIS, visit InvestingPro.
The Class A shares were offered pursuant to Nebius Group’s automatically effective shelf registration statement filed with the SEC on May 2, 2025, according to the company’s press release statement.
In other recent news, Noba Bank Group is preparing to list its shares on the Nasdaq Stockholm stock exchange, with an implied equity value of $3.74 billion. This initial public offering will involve existing shares held by current shareholders and is expected to occur in the third quarter. Meanwhile, Nebius Group has priced a $2.75 billion offering of convertible senior notes, which was increased from the initially planned $2 billion. The notes are divided into two series, maturing in 2030 and 2032, with the settlement anticipated on September 15. Additionally, Nebius Group has announced a $1 billion public offering of Class A ordinary shares at $92.50 per share, with an option for underwriters to purchase up to an additional $150 million of shares. The offerings are aimed at funding the expansion of Nebius’s AI infrastructure business, including acquiring more compute power and expanding its data center footprint. These developments are part of Nebius’s strategy to accelerate growth in the coming years.
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