Summary of all $NBIS converts and possible dilution

Total possible dilution, including warrants: 26%
Total capital raised: $10.8B
Weighted average conversion price: $130/share
2029 Notes
Principal: $500M
Coupon: 2.00%
Initial conversion price: $51.45
Effective conversion price at maturity: $61.74
Max shares if fully stock-settled: 9.72M
2031 Notes
Principal: $500M
Coupon: 3.00%
Initial conversion price: $51.45
Effective conversion price at maturity: $64.31
Max shares if fully stock-settled: 9.72M
2030 Notes
Principal: $1.58B
Coupon: 1.00%
Initial conversion price: $138.75
Effective conversion price at maturity: $159.56
Max shares if fully stock-settled: 11.40M
2032 Notes
Principal: $1.58B
Coupon: 2.75%
Initial conversion price: $138.75
Effective conversion price at maturity: $159.56
Max shares if fully stock-settled: 11.40M
2031 Notes
Principal: $2.25B
Coupon: 1.250%
Initial conversion price: $183.22
Effective conversion price at maturity: $219.86
Max shares if fully stock-settled: 12.28M
2033 Notes
Principal: $1.75B
Coupon: 2.625%
Initial conversion price: $180.31
Effective conversion price at maturity: $216.37
Max shares if fully stock-settled: 9.71M
Potential extra March over-allotment
Additional notes available: $337.5M of 2031s and $262.5M of 2033s
Extra max shares if fully exercised: 3.30M