Nebius Group (NASDAQ:NBIS) shares are down during Monday’s premarket session. The company announced the closing of a private offering of convertible senior notes.

This move comes as the broader market experienced declines, with major indices like the S&P 500 and Nasdaq both showing negative performance.

Details

Nebius closed its offering of convertible senior notes which was announced last week. The offering includes $2.5875 billion in 1.250% notes due in 2031 and $1.75 billion in 2.625% notes due in 2033.

The company has earlier estimated net proceeds of about $3.96 billion after discounts, commissions, and offering expenses.

Nebius said that proceeds could rise to about $4.55 billion if the initial purchaser fully exercises its option to buy additional notes.

Management plans to use the proceeds to fund data center construction and build-outs, invest in its full-stack AI cloud, expand its data center footprint, and procure key components, including GPUs, alongside general corporate purposes.

Technical Analysis

The broader market experienced declines on Friday, with the S&P 500 falling 0.66% and the Nasdaq dropping 0.82%. Nebius’s decline came as ...