NEXTDC (ASX:NXT) unveiled a $2.2 billion capital funding strategy to fuel an unprecedented surge in demand for its data centre services.
The centrepiece of this expansion is a $1.5 billion fully underwritten entitlement offer, priced at $12.70 per new share—representing an 8.6% discount to the theoretical ex-rights price.
The equity raise is bolstered by a $700 million expansion of its hybrid securities offer, with institutional giant La Caisse pledging a total of $1.7 billion to the debt series.
This aggressive capital injection follows a "step change" in the company’s growth trajectory. As of March 31, NEXTDC’s pro forma contracted utilisation jumped by 250MW (60%) to a total of 667MW, driven largely by massive wins at its S4 facility.
Simultaneously, the forward order book has climbed 83% since December 2025, reaching 544MW.
Management expects this backlog to progressively convert into billing revenue and EBITDA between FY26 and FY30, with contracted EBITDA from existing agreements now projected to exceed $1 billion.
To accommodate this accelerated deployment, NEXTDC has revised its FY26 capital expenditure guidance upward by $300 million, now targeting a range of $2.7 billion to $3 billion.
The funds are earmarked for long-lead infrastructure items and inventory expansion.
Following the completion of the initiatives, the company will maintain a liquidity position of approximately $5.9 billion.