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IREN has closed its $3.0bn convertible notes offering Key details of the transaction: - 1.00% coupon convertible senior notes due 2033 - $2.6bn offering plus fully exercised $400m greenshoe - $2.96bn net proceeds, after deducting the initial purchasers’ discounts and commissions and IREN’s estimated offering expenses - Capped call transactions expected to provide a hedge upon conversions up to an initial cap price of $110.30 per share - No put option for investors in the notes other than a customary put right in the case of certain fundamental changes Read more: https://t.co/bOCGywwbUB

$IREN is pleased to announce the closing of its upsized $550m convertible notes offering. Key details of the transaction: - Oversubscribed and upsized from $450m to $500m, plus $50m greenshoe - Net proceeds of approximately $534.9m - 3.50% coupon, 30% conversion premium - No put option for investors in the notes (other than a customary put right in the case of certain fundamental changes) - Capped call transactions are generally expected to provide a hedge upon conversions up to an initial cap price of $20.98 per share, which represents a 100% premium (as compared to the 30% conversion premium under the notes) - Citigroup and J.P. Morgan acted as active bookrunners Refer to the Press Release for further information: https://t.co/Iijfap17tA