IREN Announces $450M Offering with Additional $50M Option
IREN Ltd (NASDAQ:IREN) is one of the 12 best cryptocurrency and blockchain stocks to buy. On June 10, the company announced plans to offer a $450 million aggregate principal amount of convertible senior notes due 2029. It also plans to provide an additional $50 million in notes if initial purchasers exercise their option.
The company plans to use the net proceeds of the offering to fund the cost of entering into capped call transactions. Part of the funds will also be used to fund the cost of entering prepaid forward transactions. The remainder of the net proceeds will go towards general corporate purposes.
IREN Ltd (NASDAQ:IREN) is a financial services company focusing on Bitcoin mining and AI cloud services, utilizing 100% renewable energy to power its data centers. It builds, owns, and operates data centers, optimizing them for power-dense computing tasks like Bitcoin mining and AI workloads.
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Disclosure: None.
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