Vulcan Issues Notice for Expected Redemption of 8.50% Senior Notes Due 2026
Vulcan Infrastructure and Power said it expects to redeem its remaining 8.50% Senior Notes due 2026 on October 13, 2026, with approximately $30.9 million payable under the planned redemption.
Vulcan Infrastructure and Power Inc. (Nasdaq:VIP) has delivered a redemption notice covering all of its outstanding 8.50% Senior Notes due 2026. The company expects the notes to be redeemed on October 13, 2026, subject to the terms and conditions set out in the delivered notice and the governing indenture documents.
After a privately negotiated exchange completed on October 1, 2026, Vulcan said $30,345,200 in aggregate principal amount of the 2026 Notes remained outstanding. That amount is expected to be redeemed in full on October 13, 2026.
The redemption price is set at 100% of the principal amount being redeemed, together with accrued and unpaid interest up to, but not including, the redemption date. Vulcan estimates that the total amount payable will be approximately $30.9 million, comprising $30,345,200 of principal and approximately $523,000 of accrued and unpaid interest through October 12, 2026.
Vulcan said the press release itself is not the formal redemption notice. The transaction is being carried out under the notice delivered in accordance with the indenture and supplemental indenture governing the notes, and holders have been directed to that notice for the complete terms and conditions.
In the October 1 exchange, Vulcan issued $2,833,358 in aggregate principal amount of 10.00% Senior Notes due 2030, along with warrants to purchase up to an aggregate of 1,000,000 shares of Class A common stock at an exercise price of $1.87 per share.
In return, the company received $2,793,150 in aggregate principal amount of the 2026 Notes, together with accrued and unpaid interest on those notes.
As of September 30, 2026, Vulcan reported approximately $49.2 million in cash and digital assets. The amount included bitcoin with an estimated fair value of approximately $5.4 million.
After the anticipated redemption and payment of approximately $1.4 million in remaining expenses linked to the previously announced PIPE transaction, the company expects to have approximately $16.9 million in cash and digital assets. That estimate is based on preliminary unaudited quarter-end balances and excludes operating cash use, other expenses and changes in bitcoin’s value after September 30, 2026.
Vulcan said the financial information remains preliminary and unaudited and is subject to completion of its quarter-end closing and review procedures. Actual results and balances as of, and following, the anticipated redemption date may differ materially from the preliminary amounts. The company’s independent registered public accounting firm had not audited, reviewed, compiled or performed procedures on the preliminary financial information and had not provided assurance on it.
Vulcan said predevelopment work and discussions with potential artificial intelligence and high-performance computing customers are continuing at its Dresden and Columbus sites.
Chief Executive Officer Jordan Kovler said the company’s focus remains on obtaining AI and HPC customers for its sites and continuing necessary predevelopment activities. Vulcan describes itself as a power and infrastructure platform focused on acquiring, developing and operating energised sites serving AI and HPC data centres, as well as local electricity grids.
Vulcan expects to redeem its remaining 8.50% Senior Notes due 2026 on October 13, 2026, subject to the applicable redemption terms.
$30,345,200 in aggregate principal amount of the 2026 Notes remained outstanding after the October 1, 2026 exchange.
The expected redemption payment is approximately $30.9 million, including approximately $523,000 of accrued and unpaid interest through October 12, 2026.
Vulcan expects approximately $16.9 million in cash and digital assets after the anticipated redemption and approximately $1.4 million in remaining PIPE-related expenses.
Predevelopment and negotiations with potential AI/HPC customers are continuing at the Dresden and Columbus sites.
Vulcan Infrastructure and Power Inc. announced that it had delivered a notice of redemption to holders of all its outstanding 8.50% Senior Notes due 2026. The 2026 Notes are expected to be redeemed in full on October 13, 2026, subject to the terms and conditions in the redemption notice.
Vulcan Infrastructure and Power Inc. made the announcement on October 5, 2026, and said the outstanding 2026 Notes are expected to be redeemed on October 13, 2026. The company said the redemption is being effected solely under the notice delivered in accordance with the indenture and supplemental indenture governing the notes.
The redemption price will equal 100% of the principal amount of the 2026 Notes being redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. Holders are directed to the notice of redemption for the complete terms and conditions.
Following the completed exchange, $30,345,200 aggregate principal amount of Vulcan Infrastructure and Power Inc.'s 2026 Notes remains outstanding. The company said this amount is expected to be redeemed in full on October 13, 2026.
On October 1, 2026, Vulcan Infrastructure and Power Inc. completed its previously announced privately negotiated exchange by issuing $2,833,358 aggregate principal amount of its 10.00% Senior Notes due 2030 and warrants to purchase up to an aggregate of 1,000,000 shares of Class A common stock at an exercise price of $1.87 per share. In exchange, the company received $2,793,150 aggregate principal amount of 2026 Notes and accrued and unpaid interest on those notes.
Vulcan Infrastructure and Power Inc. expects the aggregate amount payable in connection with the redemption to be approximately $30.9 million. The company said this consists of $30,345,200 of principal and approximately $523,000 of accrued and unpaid interest through October 12, 2026.
As of September 30, 2026, Vulcan Infrastructure and Power Inc. had cash and digital assets of approximately $49.2 million. This included bitcoin with an estimated fair value of approximately $5.4 million.
Vulcan Infrastructure and Power Inc. expects to have cash and digital assets of approximately $16.9 million after the anticipated redemption of the 2026 Notes and payment of approximately $1.4 million of remaining expenses related to the previously announced PIPE transaction. This is based on preliminary unaudited quarter-end balances and does not give effect to operating cash use, other expenses or changes in the value of bitcoin after September 30, 2026.
Vulcan Infrastructure and Power Inc. is a power and infrastructure platform focused on acquiring, developing and operating energised sites that support artificial intelligence and high-performance computing data centres, as well as local electricity grids.
Vulcan Infrastructure and Power Inc. said that predevelopment and negotiations with potential AI/HPC customers continue at its Dresden and Columbus sites. Chief Executive Officer Jordan Kovler said the company's primary focus is securing AI/HPC customers for its sites and that necessary predevelopment activities are ongoing.
Chief Executive Officer Jordan Kovler said the redemption would eliminate Vulcan Infrastructure and Power Inc.'s 2026 debt maturity and further strengthen its balance sheet. The company also said its primary focus is securing AI/HPC customers for sites where it has existing and secured access to power.
Vulcan Infrastructure and Power Inc. said the financial information is preliminary and unaudited, remains subject to completion of its quarter-end closing and review procedures, and may differ materially from actual results and balances. The company's independent registered public accounting firm had not audited, reviewed, compiled or performed procedures on this preliminary financial information.
The announcement identifies Vulcan Infrastructure and Power Inc. as listed on Nasdaq under the ticker written as “Nasdaq:VIP”. Its company description later writes the listing as “Nasdaq: VIP”.