WhiteFiber, Inc. (NASDAQ: WYFI) announced that underwriters of its completed initial public offering have fully exercised their option to purchase an additional 1,406,250 ordinary shares at $17.00 per share. This move generated approximately $23.9 million in additional gross proceeds for the artificial intelligence infrastructure company. The over-allotment exercise increased the total number of shares sold in the IPO to 10,781,250 and brought aggregate gross proceeds to about $183.3 million. The company's shares began trading on the Nasdaq Capital Market on August 7, 2025, under the ticker symbol WYFI.
The successful offering was managed by a consortium of investment firms, with B. Riley Securities and Needham & Company acting as joint book-running managers. Macquarie Capital served as book-runner, while Roth Capital Partners acted as lead manager, and Craig-Hallum and Clear Street served as co-managers. The full over-allotment exercise represents significant market confidence in WhiteFiber's business model and growth prospects within the rapidly expanding AI infrastructure sector.
WhiteFiber operates as a provider of artificial intelligence infrastructure solutions, owning high-performance computing data centers and providing cloud services to customers. The company's vertically integrated model combines specialized colocation, hosting, and cloud services engineered to maximize performance, efficiency, and margin for generative AI workloads. More information about the company's services can be found at https://www.whitefiber.com.
The additional $23.9 million in proceeds will provide the company with enhanced financial flexibility as it continues to develop its high-performance computing capabilities and expand its service offerings to meet growing demand for generative AI infrastructure solutions. The successful IPO and subsequent over-allotment exercise come at a time when demand for AI computing resources continues to outpace supply, creating opportunities for specialized infrastructure providers. WhiteFiber's focus on optimizing performance and efficiency for AI workloads positions the company to capitalize on this trend, with the IPO proceeds expected to support expansion of its data center footprint and service capabilities.
