HIVE Announces Closing of Private Offering of US$115 Million of 0% Exchangeable Senior Notes

HIVE Digital (NASDAQ: HIVE) Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) announced that its wholly-owned subsidiary, HIVE Bermuda 2026 Ltd., closed a private offering of US$115 million aggregate principal amount of 0% exchangeable senior notes due 2031. The offering included the full exercise of the initial purchasers' option to purchase an additional US$15 million of notes.

The notes will mature on April 15, 2031, unless earlier repurchased, redeemed, or exchanged. Prior to January 15, 2031, exchanges are subject to certain conditions and periods; thereafter, holders may exchange notes at any time until two trading days before maturity. The issuer may settle exchanges in cash, common shares, or a combination thereof.

The initial exchange rate is 389.5029 common shares per US$1,000 principal amount, equivalent to an initial exchange price of approximately US$2.57 per share, a 17.5% premium to the last reported sale price of US$2.185 on April 16, 2026. The company also entered into cash-settled capped call transactions with a cap price of US$4.92 per share, representing a 125% premium.

HIVE Digital is transitioning its common shares listing from the TSX Venture Exchange to the Toronto Stock Exchange, expected around April 30, 2026, subject to meeting listing requirements.

Founded in 2017, HIVE Digital Technologies Ltd. operates Tier-I and Tier-III data centers across Canada, Sweden, and Paraguay, serving Bitcoin mining and high-performance computing clients with environmentally responsible infrastructure.