Iren (IREN) said late Tuesday it plans to offer $450 million of convertible senior notes due Dec. 15, 2029, in a private placement to qualified institutional buyers.
The company also expects to grant initial purchasers an option to purchase up to an additional $50 million of notes.
Iren said a portion of the net proceeds will be used to fund capped call transactions and a prepaid forward share repurchase, with the remainder allocated to general corporate purposes and working capital.
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