O’Melveny Advises B. Riley Securities on WhiteFiber’s Upsized US$159.4 Million Initial Public Offering
August 14, 2025
FOR IMMEDIATE RELEASE
NEW YORK—August 13, 2025— O’Melveny advised B. Riley Securities, a leading middle market investment bank, 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 US $17.00 per share.
The transaction was announced on August 13.
B. Riley Securities provides a full suite of investment banking and capital markets services to corporations, financial sponsors, and institutional investors across all industry verticals. Investment banking services include initial, secondary, and follow-on offerings, institutional private placements, merger and acquisition (M&A) advisory, SPACs, corporate restructuring and liability management.
The O’Melveny team advising B. Riley Securities was led by partner and Capital Markets Practice chair Jeeho Lee, partners David Ni and Luc Moritz, and associates Etienne Dumas, Susanna Korkeakivi, and Bryanna Willis.
About O’Melveny
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Contact:
Brandon Jacobsen
O’Melveny & Myers LLP
+1 213 430 8024
bjacobsen@omm.com
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B. Riley Securities issued the following announcement:
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.
About B. Riley Securities
BRS provides a full suite of investment banking and capital markets services to corporations, financial sponsors, and institutional investors across all industry verticals. Services include initial, secondary, and follow-on offerings, institutional private placements, merger and acquisition (M&A) advisory, SPACs, corporate restructuring, and liability management. Widely recognized for its thematic proprietary equity research, clients benefit from BRS' extensive network, industry expertise, and proven execution capabilities through its end-to-end financial services platform. For more information, visit www.brileysecurities.com.