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Draft IPO documents show SB Energy's warrant package grew from $3.6 billion at issuance in January to $5.5 billion by the end of June
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Draft IPO documents reviewed by The Wall Street Journal reveal that SB Energy — the data center company whose majority owner is SoftBank's Masayoshi Son — issued OpenAI stock warrants carrying an estimated value of $5.5 billion as an incentive to bring the AI company on as a tenant.
At the time of their January issuance, the warrants carried a $3.6 billion valuation; by June's end, that figure had climbed to $5.5 billion, the documents show. SB Energy expects to make its IPO filing public as soon as this week, according to the Journal, with bankers targeting a listing as soon as next month that could raise between $5 billion and $7 billion.
