Imperial Capital serves as a Lead Arranger and the Sole Bookrunner in the placement of a $2.3 Billion Debt Financing for CoreWeave

LOS ANGELES, Aug. 8, 2023 /PRNewswire/ -- Imperial Capital, LLC ("Imperial Capital") announced that it served as a Lead Arranger and the Sole Bookrunner for a $2.3 billion debt financing for CoreWeave, Inc. ("CoreWeave", or the "Company"), a specialized cloud provider of large-scale GPU-accelerated workloads. The funding was led by Magnetar Capital and funds managed by Blackstone Tactical Opportunities with strategic participation from leading asset management firms Coatue and DigitalBridge Credit, and funds and accounts managed by BlackRock, PIMCO, Carlyle, and Great Elm Capital Corp.

CoreWeave is powering the LLM (large language model) and generative AI boom with purpose-built, ultraperformant cloud infrastructure at scale. The new financing will be used to add to its fleet of high-performance compute to serve its customers, open new data centers, and add to CoreWeave's world class staff.

"AI has the potential to transform the way we engage with technology, power the industries of the future, and make society's vital services more efficient - as long as the infrastructure is in place to deliver performance at scale," said Michael Intrator, CoreWeave CEO and co-founder. "CoreWeave is delivering on this unprecedented level of demand with the most reliable, flexible, and highly performant compute resources to lead the industry forward. The new financing from these world class investors is a vote of confidence in our accomplishments to date and validates our future strategy."

"This transaction exemplifies Imperial Capital's experience providing bespoke capital markets advisory services to cutting-edge industries and operators," said Chris Shepard, Co-Head of Investment Banking. "AI is poised to revolutionize every aspect of our lives, and we are very pleased to have assisted CoreWeave in finding a group of lenders that will help to support the Company as it continues to provide the critical infrastructure needed for AI."

About CoreWeave

Founded in 2017, CoreWeave is a specialized cloud provider, delivering a massive scale of GPU compute resources on top of the industry's fastest and most flexible infrastructure. CoreWeave builds cloud solutions for compute-intensive use cases — machine learning and AI, VFX and rendering, life sciences, the Metaverse, and real-time streaming — that are up to 35 times faster and 80% less expensive than the large, generalized public clouds. Learn more at www.coreweave.com.

About Imperial Capital

Imperial Capital, LLC is a full-service investment bank offering a uniquely integrated platform of comprehensive services to institutional investors and middle market companies. We offer sophisticated sales and trading services to institutional investors and a wide range of investment banking advisory, capital markets and restructuring services to middle market corporate clients. Paired with our proprietary research and sales & trading desk analysis, we provide investment analysis across an issuer's capital structure, including bank loans, debt securities, the hybrid/bank capital marketplace, post-reorganization equities, special situations claims and listed and unlisted equities. Our comprehensive and integrated service platform, expertise across the global capital structure, and deep industry sector knowledge enable us to provide clients with research driven ideas, superior advisory services, and trade execution. We are quick to identify opportunities under any market conditions and we have a proven track record of offering creative, proprietary solutions to our clients. Imperial Capital, LLC has three principal businesses: Investment Banking, Institutional Sales & Trading and Institutional Research. More information about Imperial Capital, LLC can be found at www.imperialcapital.com.

For more information regarding Imperial Capital, please contact:

Tigist Gessesse
Corporate Finance Manager
(310) 246-3605
[email protected]

SOURCE Imperial Capital, LLC