Bitcoin Miner and Asic manufacturer Bitdeer Technologies (BTDR) completed a private placement of $ 330 million in convertible senior tickets which mature on July 1, 2031. Tickets increase interest at 4.875% and have a conversion price of $ 15.87 per share – approximately 44% above the current negotiation price of $ 11 BTDR.
The conversion rate of the obligation of 62,9,921 class A shares per main $ 1,000 means that full conversion could produce around 20.8 million new shares. To cover this, Bitdeer Prepaid Barclays $ 129.6 million for a purchase option with a zero exercise price on more than 10.2 million shares, or 49% of the total conversion. The option allows Bitdeer to adjust the conversions using the actions of the Barclays inventory rather than linking its own action.
Bitdeer, uses around $ 129.6 million in the product to finance the zero-grave call option, $ 36.1 million to pay cash for its simultaneous ticket exchange transactions and the remaining funds for the expansion of Datacenter, the development of its manufacturing and the Rolling Fund asic.
The company is currently working on new conceptions of ASIC fleas which could potentially make its mining platforms much more effective than current models.
The actions are slightly lower in the trade on Wednesday.
