Business

IREN Closes $3.0 Billion Convertible Notes Offering

NEW YORK, May 14, 2026 (GLOBE NEWSWIRE) -- IREN Limited (NASDAQ: IREN) (“IREN”) today announced the closing of its offering of $3.0 billion aggregate principal amount of 1.00% convertible senior notes due 2033 (the “notes”) in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Key details of the transaction $2.6 billion offering, plus fully exercised $400 million greensh

articleIren LimitedMay 14, 20266/company/iris-energy-ltd/news/iren-closes-dollar30-billion-convertible-notes-offering
IREN Closes $3.0 Billion Convertible Notes Offering

About this update from Iren Limited

[{"type":"image","alt":"IREN","displaySize":"","headline":null,"caption":"IREN","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":157,"url":"https://media.zenfs.com/en/globenewswire.com/2336f1de472da3dcc7389fbfff825e40"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/7kGzTP6zeVCFShUkAR8oVw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTIyMA--/https://media.zenfs.com/en/globenewswire.com/2336f1de472da3dcc7389fbfff825e40","width":300,"height":157},"resize_sm":{"url":"https://s.yimg.com/ny/api/res/1.2/7kGzTP6zeVCFShUkAR8oVw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTIyMA--/https://media.zenfs.com/en/globenewswire.com/2336f1de472da3dcc7389fbfff825e40","width":300,"height":157}},"lazy":false},{"type":"text","content":"NEW YORK, May 14, 2026 (GLOBE NEWSWIRE) -- IREN Limited (NASDAQ: IREN) (“IREN”) today announced the closing of its offering of $3.0 billion aggregate principal amount of 1.00% convertible senior notes due 2033 (the “notes”) in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”).","length":404,"tagName":"p"},{"type":"text","content":"Key details of the transaction ","length":30,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"$2.6 billion offering, plus fully exercised $400 million greenshoe","length":66,"tagName":"p"}]},{"val":[{"type":"text","content":"Net proceeds of approximately $2.96 billion","length":43,"tagName":"p"}]},{"val":[{"type":"text","content":"1.00% coupon, 32.5% conversion premium","length":38,"tagName":"p"}]},{"val":[{"type":"text","content":"No put option for investors in the notes (other than a customary put right in the case of certain fundamental changes)","length":118,"tagName":"p"}]},{"val":[{"type":"text","content":"Capped call transactions entered into in connection with the notes, which are generally expected to provide a hedge upon conversions up to an initial cap price of $110.30 per share, which represents a 100% premium (as compared to the 32.5% conversion premium under the notes)","length":275,"tagName":"p"}]},{"val":[{"type":"text","content":"J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, Citigroup Global Markets Inc., Jefferies LLC, MUFG Securities Americas Inc., Wells Fargo Securities, LLC and Cantor Fitzgerald & Co. acted as bookr...

More updates from Iren Limited

IRENSecurities Acttransactionsordinary sharesNet proceeds