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← IREN
Thu, May 14, 2026

IREN closes $3.0 billion convertible notes offering

Source file ↗

Key points

  • $2.6 billion offering plus a fully-exercised $400 million greenshoe — $3.0 billion total
  • Net proceeds of approximately $2.96 billion; 1.00% coupon, 32.5% conversion premium
  • Capped call transactions provide a hedge up to an initial cap price of $110.30/share
  • J.P. Morgan, Goldman Sachs, Citigroup, Jefferies, MUFG, Wells Fargo and Cantor Fitzgerald acted as bookrunners