---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-26-020669"
form_type: "8-K"
ticker: "IREN"
cik: "0001878848"
company_name: "IREN Ltd"
filed_at: "2026-05-12T10:06:06+00:00"
generated_at: "2026-05-12T10:12:58.372690+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# IREN prices upsized $2.6B 1.00% convertible notes due 2033, increased from $2.0B

## Summary
- $2.6B aggregate principal of 1.00% convertible senior notes due 2033; initial purchasers have option for additional $400M.
- Conversion premium 32.5%; initial conversion price ~$73.07 per share based on $55.15 closing price on May 11.
- Net proceeds estimated at $2.57B; ~$174.5M used for capped call cost, remainder for general corporate purposes.
- Capped call transactions with cap price of $110.30 per share (100% premium) to reduce potential dilution.
- Offering expected to close on May 14, 2026; notes will mature December 1, 2033.

## SEC filing metadata
- accession: 0001140361-26-020669
- form_type: 8-K
- ticker: IREN
- cik: 0001878848
- company_name: IREN Ltd
- filed_at: 2026-05-12T10:06:06+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1878848/000114036126020669/0001140361-26-020669-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1878848/000114036126020669/ef20073131_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-26-020669
- JSON: https://secwatch.observer/filing/0001140361-26-020669.json
- Plain text: https://secwatch.observer/filing/0001140361-26-020669.txt

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