Bitdeer Technologies (BTDR) said late Wednesday it plans a $400 million private placement of convertible senior unsecured notes due 2031.
The company intends to provide a 13-day overallotment option to the initial purchasers to buy up to an additional $60 million of the notes.
Separately, Bitdeer said it plans to offer its class A ordinary shares to certain holders of its 5.25% convertible senior notes due 2029 in a direct placement.
The company intends to use the net proceeds from the transactions to fund certain capped call deals, among other things.
Bitdeer shares were down 15% in recent premarket activity Thursday.
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