secwatch.observer — SEC 8-K summary
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Issuer:     Keel Infrastructure Corp. (KEEL)
CIK:        0001812477
Form:       8-K
Filed at:   2026-06-10T01:14:25+00:00
Accession:  0001213900-26-067042
Event type: debt
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Keel Infrastructure closes $458M convertible notes offering with 1.25% coupon, conversion at $7.41
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- $458M aggregate principal, net proceeds ~$445.4M after discounts and commissions.
- Interest 1.25% p.a., payable semi-annually; matures Jan 15, 2032 unless earlier converted.
- Initial conversion price ~$7.41/share (25% premium to $5.93); capped call cap $11.86/share.
- Capped call transactions cost ~$41.7M, expected to reduce dilution upon conversion.
- Proceeds for general corporate purposes, including data center development deposits and letters of credit.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1812477/000121390026067042/0001213900-26-067042-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1812477/000121390026067042/ea0294115-8k_keelinfra.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-067042

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