PANews reported on October 9th that IREN, a Nasdaq-listed Bitcoin mining company, announced the pricing of $875 million in convertible senior notes with a 0.00% interest rate and due in 2031. IREN also granted the initial purchasers of the notes an option to purchase up to an additional $125 million in principal amount of notes within 13 days of the initial issuance date. IREN estimates that net proceeds from this offering, after deducting the initial purchaser's discount commission and estimated offering expenses, will be approximately $856.5 million (or approximately $979 million if the initial purchasers exercise their option to purchase additional notes in full). IREN plans to use approximately $49.6 million of the net proceeds to cover capped call option transaction costs and the remainder for general corporate purposes and working capital.PANews reported on October 9th that IREN, a Nasdaq-listed Bitcoin mining company, announced the pricing of $875 million in convertible senior notes with a 0.00% interest rate and due in 2031. IREN also granted the initial purchasers of the notes an option to purchase up to an additional $125 million in principal amount of notes within 13 days of the initial issuance date. IREN estimates that net proceeds from this offering, after deducting the initial purchaser's discount commission and estimated offering expenses, will be approximately $856.5 million (or approximately $979 million if the initial purchasers exercise their option to purchase additional notes in full). IREN plans to use approximately $49.6 million of the net proceeds to cover capped call option transaction costs and the remainder for general corporate purposes and working capital.
Bitcoin mining company IREN announced the issuance of $875 million in convertible senior notes
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PANews reported on October 9th that IREN, a Nasdaq-listed Bitcoin mining company, announced the pricing of $875 million in convertible senior notes with a 0.00% interest rate and due in 2031. IREN also granted the initial purchasers of the notes an option to purchase up to an additional $125 million in principal amount of notes within 13 days of the initial issuance date. IREN estimates that net proceeds from this offering, after deducting the initial purchaser's discount commission and estimated offering expenses, will be approximately $856.5 million (or approximately $979 million if the initial purchasers exercise their option to purchase additional notes in full). IREN plans to use approximately $49.6 million of the net proceeds to cover capped call option transaction costs and the remainder for general corporate purposes and working capital.
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