WhiteFiber units sign $300M term loan for NC-1 data center; $200M initial, $100M delayed-draw

WhiteFiber, Inc.

Enovum NC-1 Midco (Holdings) and Enovum NC-1 Bidco (Borrower) signed a $300.0M term loan credit agreement with Morgan Stanley Senior Funding as admin/collateral agent and lead arranger.
Initial funding requires readiness and customer acceptance of the first 40 MW at the NC-1 data center in Madison, North Carolina; no loans had been funded as of the report.
Interest at Term SOFR (2.00% floor) plus 6.00%, or base rate (3.00% floor) plus 5.00%; facilities mature on the fifth anniversary of initial funding.
Quarterly amortization of 2.50% of funded principal starts quarter ending March 31, 2027; make-whole premium before the 2nd anniversary, then 2.00% and 1.00% step-downs.
Proceeds fund Phase 1 construction, punch-list, reserves and expenses; debt is not guaranteed by WhiteFiber, but the Operating Partnership must guarantee Phase 1 completion.

This headline and bullets were generated automatically by deepseek-v4.1-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.