Bitdeer Technologies Group (BTDR) saw its stock price soar 5.54% in Friday's intraday trading following the announcement of pricing for a new $360 million convertible senior notes offering.
The tech company revealed that it has priced $360 million principal amount of 5.25% Convertible Senior Notes due in 2029 in a private placement. Bitdeer also granted the initial purchasers an option to buy up to an additional $40 million worth of the notes.
The convertible debt offering is expected to provide Bitdeer with additional capital to fund its operations and future growth initiatives. Investors viewed the successful debt raise as a positive signal about the company's prospects, driving the stock higher on Friday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.