secwatch.observer — SEC 8-K summary
======================================

Issuer:     IREN Ltd (IREN)
CIK:        0001878848
Form:       8-K
Filed at:   2025-12-08T23:59:59+00:00
Accession:  0001140361-25-044888
Event type: debt
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IREN closes $2.3B convertible notes offering, repurchases $544.3M existing notes
--------------------------------------------------------------------------------

- Issued $1.15B 0.25% notes (2032) and $1.15B 1.00% notes (2033); greenshoe fully exercised.
- Repurchased $227.7M of 3.25% 2030 notes and $316.6M of 3.50% 2029 notes for ~$1.632B total.
- Funded via registered direct offering of 39,699,102 shares at $41.12/share, raising net ~$2.27B.
- Capped call transactions cost $201M, cap price $82.24/share (100% premium over $41.12).
- Net proceeds of ~$2.068B for general corporate purposes after repurchases and fees.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1878848/000114036125044888/0001140361-25-044888-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1878848/000114036125044888/ef20060782_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-25-044888

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer