MiniMax Raises $1.9 Billion in Share Sale at $34 and Convertible Bonds
MiniMax raised HK$14.54 billion ($1.9 billion) in a share and bond offering, terms of the deals shown to Bloomberg News reveal. The company sold 35.6 million shares at a price of about $34 each and raised $830 million through convertible bonds due in 2027.
The fundraise was seven times oversubscribed and drew more than 100 investors, including global sovereign wealth funds, long-term funds, and leading Chinese institutions, the National Business Daily reported.
From the sources (6 posts)
@businessMiniMax is looking to raise as much as HK$14.54 billion ($1.9 billion) from selling new shares and convertible bonds, according to terms of the deals seen by Bloomberg News
@minimax_aiRT @ModelScope2022: Huge congratulations to @MiniMax_AI on the $2B financing milestone! 🚀 MiniMax’s CEO has committed 1% of the company’s…
@teortaxestex> Starting today, and until the day we reach AGI, I will no longer receive any compensation from the company. MiniMax CEO decided to min himself to max the company… I welcome the commitment
@techmemeMiniMax is looking to raise as much as $1.9B by selling 35.6M shares at ~$34 each and offering ~$830M in convertible bonds due 2027 (Bloomberg) (Visit Techmeme dot com for the link and full context!)
@vllm_project@RyanLeeMiniMax Congratulations to the @MiniMax_AI team. Excited to see this strong commitment to open source and the broader AI ecosystem. 🚀 Looking forward to building the future of AI together. 🤝
@yicaichinaMiniMax has bagged HKD16 billion (USD2 billion) in a new fundraiser that was seven times oversubscribed, attracting over 100 investors, including global sovereign wealth funds, long-term funds, leading Chinese institutions, and top multi-st