IREN closes upsized $550 million convertible notes offering

Key points

Oversubscribed and upsized from $450 million to $500 million, plus a $50 million greenshoe — $550 million total
Net proceeds of approximately $534.9 million; 3.50% coupon, 30% conversion premium
No put option for investors other than a customary fundamental-change put right
Capped call transactions entered into in connection with the notes