---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-25-044095"
form_type: "8-K"
ticker: "IREN"
cik: "0001878848"
company_name: "IREN Ltd"
filed_at: "2025-12-03T23:59:59+00:00"
generated_at: "2026-05-16T15:27:38.569706+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# IREN prices $2B convertible notes, launches $1.6B equity offering to refinance existing notes

## Summary
- $1B 0.25% notes due 2032 and $1B 1.00% notes due 2033 priced; initial conversion price ~$51.40 (25% premium).
- Registered direct offering of 39.7M shares at $41.12 for ~$1.63B gross proceeds to fund repurchase.
- Repurchase of ~$544M principal of existing 2029 and 2030 convertible notes for ~$1.63B (including accrued interest).
- Capped call transactions entered with cap price $82.24/share (100% premium) to reduce dilution potential.
- Net proceeds from notes offering ~$1.97B; settlement expected Dec 8, 2025.

## SEC filing metadata
- accession: 0001140361-25-044095
- form_type: 8-K
- ticker: IREN
- cik: 0001878848
- company_name: IREN Ltd
- filed_at: 2025-12-03T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1878848/000114036125044095/0001140361-25-044095-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1878848/000114036125044095/ny20060080x4_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-25-044095
- JSON: https://secwatch.observer/filing/0001140361-25-044095.json
- Plain text: https://secwatch.observer/filing/0001140361-25-044095.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.