Tuesday, IREN Limited (IREN) announced the pricing of a $2.6 billion private offering of 1.00% convertible senior notes due 2033, which was increased from the previously announced offering size of $2 billion.
Of the total proceeds, the company intends to use approximately $174.5 million to fund the cost of entering into the capped call transactions and the remaining for general corporate purposes and working capital.
Also, IREN entered into privately negotiated capped call transactions with certain of the initial purchasers or their affiliates and certain other financial institutions, pricing the capped call transactions at initially $110.30 per share.
The issuance and sale of the notes are scheduled to settle on May 14, 2026.
In the pre-market hours, IREN is trading at $56.06, up 1.66 percent on the Nasdaq.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.