Data center developer HIVE Digital drops after $115 mln exchangeable notes sale

HIVE Digital Technologies

26/06/2026 12:33

** HIVE Digital Technologies' HIVE.O shares down 4.2% before the bell on Fri to $3.63 after it clinches another raise
** HIVE late Thurs announced pricing private offering of $115 mln 0% exchangeable notes due July 1, 2031
** Initial exchange price of $4.83 represents approx 27.5% premium to stock's last close of $3.79
** HIVE's shares lost 8.5% on Thurs after co announced $100 mln offering for general purposes, capital investment, and data center development
** Co may also use some proceeds to pay for capped call transactions; initial cap price of $8.53 is 125% above stock's last sale
** In Apr, HIVE tapped the capital markets with an offering of $100 mln 0% exchangeable notes due Apr 15, 2031
** HIVE's shares, which have nearly $1 bln market cap, up 47% YTD and 96% over the past three months at Thurs close
** 6 analysts rate the stock "buy", 1 other rates "hold"; median PT $7.50, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))