Offering

Delek Logistics Partners, LP successfully priced a $700 million offering of 7.375% senior notes due 2033. The notes, issued by Delek Logistics and its subsidiary, will be issued at par, closing June 30, 2025, and are intended to repay outstanding borrowings. This offering targets qualified institutional buyers and non-US persons. The deal highlights investor confidence in the midstream energy sector. Delek Logistics provides transportation, storage, and marketing services.

Super Micro Computer announced a $2 billion offering of convertible senior notes due 2030, with a potential $300 million increase. The notes have an initial conversion price of approximately $55.20 per share, at a 35% premium to the stock’s closing price. Supermicro plans to use proceeds for share repurchases, capped call transactions, and general corporate purposes to expand its IT solutions. The company is also concurrently repurchasing shares and has entered into capped call transactions to mitigate dilution.

IREN Limited has priced a $500 million offering of convertible senior notes due 2029, upsized from an initial $450 million, signaling strong investor interest. The offering, coupled with capped call transactions, aims to mitigate dilution risk. Proceeds will fund the capped call transactions, a prepaid forward transaction, and general corporate purposes. Key note terms include a 3.50% coupon, semi-annual interest payments, and an initial conversion price of approximately $13.64 per share. The company is strategically positioning itself in Bitcoin, AI, and next-generation computing.

Venus Concept is raising capital through a registered direct offering. The company aims to raise $1.15 million initially by selling common stock at $2.65 per share, with an additional $2.3 million possible through warrants. The offering, which is expected to close around June 9, 2025, will provide funds for general corporate purposes. Venus Concept, a medical aesthetic technology provider in over 60 countries, offers a range of devices and is driven by investors in the healthcare industry.

Life360 plans to issue $250 million in convertible senior notes due 2030 in a private offering to institutional buyers, with an option for an additional $37.5 million. The notes, with semi-annual interest payments, can be converted under certain conditions by holders, and Life360 can redeem them or repurchase them upon a “fundamental change.” Proceeds will finance capped call transactions (to mitigate share dilution) and general corporate purposes, potentially including acquisitions or product expansion. The specific terms and conditions will be available upon pricing.