IREN Shares Rise After Upsizing of $400M Senior Notes Offering

Dow Jones

2024-12-04

By Chris Wack

IREN shares rose after the company priced its offering of $400 million of 3.25% convertible senior notes due 2030 in a private offering.

Shares were up 7% to $13.78 in recent trading. The stock is up almost 92% this year.

The offering size was increased from the previously announced offering size of $300 million. Issuance and sale of the notes are scheduled to settle Friday.

The technology company granted the initial purchasers of the notes an option to buy up to an additional $40 million of notes.

IREN expects proceeds from the offering of $386.5 million, or $425.4 million if the initial purchasers fully exercise their option to purchase additional notes.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

December 04, 2024 10:26 ET (15:26 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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The stock is up almost 92% this year. \n\n\n  The offering size was increased from the previously announced offering size of $300 million. Issuance and sale of the notes are scheduled to settle Friday. \n\n\n  The technology company granted the initial purchasers of the notes an option to buy  up to an additional $40 million of notes. \n\n\n  IREN expects proceeds from the offering of $386.5 million, or $425.4 million if the initial purchasers fully exercise their option to purchase additional notes. \n\n\n \n\n\n  Write to Chris Wack at chris.wack@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 04, 2024 10:26 ET (15:26 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"shareholding","news_rank":0,"symbols":[],"gpt_button":0}}}