August 13, 2025 - B. Riley Securities, Inc. ("BRS"), a leading middle market investment bank, is pleased to have served as lead left bookrunner for WhiteFiber, Inc. (Nasdaq: WYFI) in its upsized initial public offering of 9.375 million ordinary shares at a price of $17.00 per share. WhiteFiber is listed on the Nasdaq Capital Market under the symbol "WYFI." The offering closed on August 8, 2025.
In connection with the offering, WhiteFiber received gross proceeds of approximately $159.4 million, before underwriting discounts, commissions, and expenses, and has granted the underwriters a 30-day option to purchase up to 1,406,250 additional ordinary shares at the initial public offering price, less underwriting discounts and commissions.
WhiteFiber is a leading artificial intelligence ("AI") infrastructure company that owns high-performance computing (HPC) data centers and offers GPU cloud services to customers. Its vertically integrated model combines specialized colocation, hosting, and cloud services engineered to maximize performance, efficiency, and margin for generative AI workloads.
Net proceeds from its IPO will be used to fund additional WhiteFiber data centers; potential acquisitions, partnerships and joint ventures; research and development; working capital and general corporate purposes.
This transaction also marks WhiteFiber's carve-out from Bit Digital, Inc., representing the first instance of a digital asset company successfully carving out its HPC data center subsidiary into a standalone public company.
BRS' investment banking team was led by Joe Nardini and Patrick Hanniford and included Alex Wolodzko and Hayden Kickbush.
Our
capital markets team was led by Jimmy
Baker and Ryan
Aceto and included Dawn
Farrell, Sam Cook and Forbes Aggabao.
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