May. 15 at 1:34 AM
$IREN officially closed its upsized
$3B convertible senior notes offering today (includes the full exercise of a
$400M greenshoe option). This was a massive capital raise, upscaled from an initial
$2B target due to high institutional demand
Coupon: 1.00% per annum (payable semi-annually)
Maturity: Dec 1, 2033
Conversion Price:
$73.07
Hedge: calls cap price of
$110.30
Proceeds:
$2.96B
Funding the 480MW expansion slated for 2026 & the 1,210MW pipeline for 2027