3D·

IREN kündigt geplantes Angebot von Wandelanleihen an.

BamBamInvest · 2025-10-07T20:23:09.563553Z

$IREN Offering: IREN plans a private offering of $875 million in convertible senior notes due 2031, with an option for an additional $125 million, totaling up to $1.0 billion. The offering is limited to qualified institutional buyers under Rule 144A of the Securities Act. Terms: Senior unsecured notes, maturing July 1, 2031, with semiannual interest. Convertible into cash, shares, or both. Callable from January 8, 2029 if the share price exceeds 130% of the conversion price. Holders can require repurchase upon a fundamental change. Rates and conversion terms to be set at pricing. Use of Proceeds: To fund capped call transactions and for general corporate purposes and working capital. Additional proceeds, if the option is exercised, will fund more capped calls. Capped Calls: Designed to limit dilution and/or offset cash payments above principal, up to a cap price. Initially cash-settled until shareholder approval allows share repurchases. Counterparty hedging may impact IREN’s share and note prices around key dates. Legal: The notes and any conversion shares are unregistered and may be sold only under exemptions. This release is not an offer or solicitation where such actions are unlawful.

$IREN (-9.15%)

Offering: IREN plans a private offering of $875 million in convertible senior notes due 2031, with an option for an additional $125 million, totaling up to $1.0 billion. The offering is limited to qualified institutional buyers under Rule 144A of the Securities Act.

Terms: Senior unsecured notes, maturing July 1, 2031, with semiannual interest. Convertible into cash, shares, or both. Callable from January 8, 2029 if the share price exceeds 130% of the conversion price. Holders can require repurchase upon a fundamental change. Rates and conversion terms to be set at pricing.

Use of Proceeds: To fund capped call transactions and for general corporate purposes and working capital. Additional proceeds, if the option is exercised, will fund more capped calls.

Capped Calls: Designed to limit dilution and/or offset cash payments above principal, up to a cap price. Initially cash-settled until shareholder approval allows share repurchases. Counterparty hedging may impact IREN’s share and note prices around key dates.

Legal: The notes and any conversion shares are unregistered and may be sold only under exemptions. This release is not an offer or solicitation where such actions are unlawful.

6 Comments

lookingforinformation@lookingforinformation

and good or bad for the short-term share value?

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Yoshika 🦋.@Yoshika

@lookingforinformation
IREN: "We are bringing convertible bonds!"
Market: "Why?"
IREN: "Because debt with a future option somehow sounds better."

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Yoshika 🦋.@Yoshika

@Yoshika
GetQuin: "To the moon, folks, this is institutional, love it." 🚀

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BamBamInvest@BamBamInvest

@lookingforinformation well, it is capital that is needed to continue the expansion or for investments, it was clear that capital was still needed. We'll see whether some of it goes into Horizon 1 GPUs or all of it goes to Canada. But I think it's bullish and you can see after the market close that the short dip was bought again. Nobody can tell you that in the short term because it also has to do with sentiment, overbought etc., but in the long term it is of course beneficial. I can't tell you whether we'll see another sell-off today as a result. But a small correction or taking out some overheating wouldn't do any harm in principle. But somehow everyone wants to be part of the party and even a red Wall Street doesn't care about the price 😂

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Yoshika 🦋.@Yoshika

@Yoshika
Capital increase in installments.
Dosed via capped calls, but real.

Convertible buyers are also hedging with shorts. This is likely to put pressure on the share price in the short term.

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Global I.@gloinvest

I: Lend me some money!
A: Yes - when will I get it back?
I: 2029
A: Sure?
I: Sure.
A: And if you don't have any money then?
I: Then you'll get my old bike instead of money.
A: But that will be mine alone...
I: Nope, only pro rata...

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