Bitcoin mining company IREN will issue convertible notes to raise $2 billion

Golden Finance reports that Bitcoin mining companies and AI computing infrastructure firm IREN Limited announced plans to privately issue $2.03 billion convertible preferred notes due in 2033 to qualified institutional investors under Rule 144A, with an additional potential issuance of $300 million. According to the terms, IREN can redeem these notes early after June 2030 if certain stock price conditions are met; if a “material change event” occurs, investors can require the company to repurchase the bonds at principal plus accrued interest.

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