HIVE Digital edges higher premarket after upsized $100 mln exchangeable debt offering

HIVE Digital Technologies

17/04/2026 11:46

** AI compute co HIVE Digital Technologies HIVE.O shares up 0.7% at $2.20 in premarket trading after above-target raise

** San Antonio, Texas-headquartered firm late Thurs announced pricing private offering of $100 mln 0% 5-yr exchangeable notes

** Initial conversion price of $2.57 is approx 17.5% premium to stock's last close of $2.19

** HIVE shares fell 11.5% on Thurs after co announced $75 mln offering

** Co to use net offering proceeds for general purposes, capital investment, including purchase of graphics processing units, data center development

** It also may use some proceeds to fund approx $17.2 mln for capped call transactions; initial cap price set at $4.92, 125% above last sale

** Through Thurs, stock down ~15% YTD following ~9% drop in 2025

** Of 8 analysts, 7 rate "buy", 1 rates "hold"; median PT $6, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))