secwatch.observer — SEC 8-K summary
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Issuer:     IREN Ltd (IREN)
CIK:        0001878848
Form:       8-K
Filed at:   2025-12-03T23:59:59+00:00
Accession:  0001140361-25-044095
Event type: debt
Sentiment:  neutral
Materiality: 0.85
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1878848/000114036125044095/0001140361-25-044095-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1878848/000114036125044095/ny20060080x4_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-25-044095

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