Nebius stabilizes after boosted $4 bln convertible bonds sale

Nebius NV

18/03/2026 11:48

** Shares of AI infrastructure firm Nebius Group NBIS.O trading around the flat line premarket after above-target raise

** Amsterdam-based co announces pricing private offerings of $2.25 bln 1.25% convertible bonds (CBs) due 2031 and $1.75 bln 2.625% CBs due 2033

** Initial conversion price on 2031 CBs of $183.22 and conversion price on 2033 CBs of $180.31 represent premiums to stock's last close of 57.5% and 55%, respectively

** NBIS shares dropped 10.4% to close at $116.33 on Tues after co unveiled $3.75 bln CBs plan to fund construction and build-out of its data centers, among other purposes

** Capital raise comes on heels of co inking deal worth up to $27 bln to provide computing power to Meta META.O, and Nvidia's NVDA.O $2 bln investment in NBIS

** As of Tues, NBIS stock up ~39% YTD and roughly 18% below record intraday high of $141.10 from Oct 10

** Avg rating of 12 analysts is "buy" and median PT is $150

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

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