Iren Ltd. Announces $500 Million Convertible Notes Offering with Strategic Hedging Activities to Influence Market Dynamics

Reuters
Jun 11, 2025
Iren Ltd. Announces $500 Million Convertible Notes Offering with Strategic Hedging Activities to Influence Market Dynamics

Iren Ltd. has unveiled its strategic plans involving capped call transactions in connection with the issuance of notes. The company aims to establish initial hedges as option counterparties and their affiliates engage in various derivative transactions with Iren's ordinary shares. These actions could influence the market price of Iren's shares and notes. The strategy also includes potential modifications of hedge positions by the forward counterparty or its affiliates through further derivative transactions or trading of Iren's shares in the secondary market. This activity may affect the conversion process and the value of consideration for noteholders. Iren's capped call transactions are designed to mitigate dilution of shares upon note conversion, subject to a cap price. The transactions will be cash settled until shareholder approval for share repurchase is obtained or permitted under jurisdictional laws, with the company retaining the option to seek such approval at future meetings. The notes and any shares from conversion are not registered under the Securities Act, limiting their offer and sale to exempt transactions.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Iren Ltd. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9466826-en) on June 11, 2025, and is solely responsible for the information contained therein.

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