Keel Infrastructure prices $400M 1.25% convertible notes due 2032; conversion price $7.41 (25% premium)

Keel Infrastructure Corp.

Aggregate principal amount increased to $400M from $350M; initial purchasers option for additional $58M.
Notes bear interest at 1.250% per annum, payable semi-annually; mature January 15, 2032.
Initial conversion rate 134.9073 shares per $1,000 principal, conversion price ~$7.41 per share.
Company entered into capped call transactions to reduce dilution; cap price $11.86 per share.
Net proceeds to fund capped call cost and general corporate purposes, including data center development projects.

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