IREN prices upsized $500 million convertible notes offering
1. IREN announced a $500M offering of convertible senior notes due 2029. 2. Offering size increased from $450M; interest at 3.50% with a 30% conversion premium. 3. Proceeds will fund capped call transactions and work capital, totaling approximately $486M. 4. Notes can reduce dilution and hedge cash payments; capped at $20.98 per share. 5. IREN focuses on renewable energy for data centers, enhancing growth in Bitcoin and AI.