IREN closes $3.0B 1% convertible notes due 2033; net proceeds $2.96B

IREN Ltd

$3.0B principal amount, 1.00% coupon, matures December 1, 2033.
Net proceeds ~$2.96B; $201.3M used for capped call transactions.
Initial conversion price ~$73.07/share (32.5% premium); cap price $110.30 (100% premium over $55.15).
Greenshoe of $400M fully exercised; total issuance $3.0B.
Terminated portion of 2029 capped calls tied to equitized 2029 notes from Nov 2025.

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