We advised CoreWeave on the offering

Davis Polk advised CoreWeave, Inc. in connection with an offering of approximately $2.6 billion aggregate principal amount of its 1.75% convertible senior notes due 2031, which included approximately $338 million aggregate principal amount of notes pursuant to the exercise in full of the initial purchasers’ option to purchase additional notes. The notes are convertible into cash, shares of Class A common stock or a combination of cash and Class A common stock. We also advised the company on the capped call transactions related to the convertible senior notes offering.

CoreWeave delivers a cloud platform of cutting-edge software powering the next wave of AI. The company’s technology provides enterprises and leading AI labs with cloud solutions for accelerated computing. Since 2017, CoreWeave has operated a growing footprint of data centers across the United States and Europe.

The Davis Polk capital markets team included partners Michael Kaplan and Hillary A. Coleman and associates Steven Glendon and Paul M. Sessa. The equity derivatives team included partners Mark M. Mendez and Caitlin L. Wood, counsel Gregory E. Marchesini and associate Richard Stockton Bullitt. Partner Corey M. Goodman provided tax advice. Partner Pritesh P. Shah provided intellectual property advice. All members of the Davis Polk team are based in the New York office.

Copy link to share post