IREN prices $875M zero-coupon convertible notes due 2031 with 42.5% conversion premium

IREN Ltd

$875M principal, 0.00% coupon, due July 1, 2031; initial conversion price ~$85.63/share ($60.09 reference).
Net proceeds ~$856.5M ($979M if full $125M option exercised); $49.6M for capped call transactions.
Capped calls provide hedge up to $120.18/share (100% premium) to reduce dilution on conversion.
Initial purchasers have option to buy additional $125M notes; settlement expected Oct 14, 2025.
Remaining net proceeds for general corporate purposes and working capital.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.