Nebius commences underwritten public offering of $1B of Class A shares

Nebius (NBIS) Group announced that it has commenced an underwritten public offering of $1B of the company’s Class A ordinary shares. In addition, the company intends to grant the underwriters a 30-day option to purchase up to an additional $150M of Class A ordinary shares at the public offering price, less underwriting discounts and commissions. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. All Class A ordinary shares to be sold in the offering will be offered by the company. Goldman Sachs & Co. LLC is acting as lead book-running manager for the proposed offering. Morgan Stanley & Co. LLC, BofA Securities and Citigroup are acting as additional book-running managers for the proposed offering. The company intends to use the net proceeds from the offering of Class A ordinary shares and, if consummated, of the offering of the Notes to finance the continuing growth of its business, including the acquisition of additional compute power and hardware, securing strategic high-quality and well-located land plots with reliable providers, the expansion of its data center footprint, and for general corporate purposes.