Bitcoin
And the operator of the IREN data center plans to collect $ 450 million thanks to a private sale of convertible head tickets, the company said in a press release.
Tickets, due in 2029, will be offered to qualified institutional buyers and could develop additional $ 50 million if initial buyers take optional allocation.
Not guaranteed tickets will pay semi -annual interests and may be converted into Iren’s ordinary shares under certain conditions. The company has the possibility of buying tickets from mid-2012 if its shares are negotiated 30% above the conversion price for a defined period.
Iren said he intended to use the product for a pair of financial strategies intended to compensate for the potential dilution of shares and market risk. These are capped appeal transactions and a prepaid long -term action buyback.
These hedges are designed to reduce the impact of future ticket conversions and can support the company’s action by limiting the number of new actions issued.
“If, however, the price of the market by ordinary action of Iren, measured under the capped appeal transactions, exceeds the price of the ceiling of the capped appeal transactions, there would nevertheless be the dilution and / or there would be no compensation for these payments in potential species,” wrote the company.
Earlier this year, Iren canceled its expansion of Bitcoin extraction to promote AI data centers. Its shares are down 6.8% before the opening bell.
