---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-26-021285"
form_type: "8-K"
ticker: "IREN"
cik: "0001878848"
company_name: "IREN Ltd"
filed_at: "2026-05-14T20:06:36+00:00"
generated_at: "2026-05-14T21:00:46.067203+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- $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.

## SEC filing metadata
- accession: 0001140361-26-021285
- form_type: 8-K
- ticker: IREN
- cik: 0001878848
- company_name: IREN Ltd
- filed_at: 2026-05-14T20:06:36+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1878848/000114036126021285/0001140361-26-021285-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1878848/000114036126021285/ef20073507_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-26-021285
- JSON: https://secwatch.observer/filing/0001140361-26-021285.json
- Plain text: https://secwatch.observer/filing/0001140361-26-021285.txt

## Key facts
- Debt Financings
  IREN Ltd incurred convertible notes of $3.0 billion principal amount with U.S. Bank Trust Company, National Association, as trustee at 1.00% per annum maturing December 1, 2033.
  - Instrument: convertible notes
  - Principal: $3.0 billion principal amount
  - Counterparty: U.S. Bank Trust Company, National Association, as trustee
  - Rate: 1.00% per annum
  - Maturity: December 1, 2033
  - Event: incurrence
  source text: On May 14, 2026 (the “Closing Date”), IREN Limited (the “Company”) issued $3.0 billion principal amount of its 1.00% Convertible Senior Notes due 2033 (the “Convertible Notes”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1878848/000114036126021285/0001140361-26-021285-index.htm
- Material Agreements
  IREN Ltd entered into Indenture with U.S. Bank Trust Company, National Association valued at $3.0 billion principal amount (effective 2026-05-14).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: U.S. Bank Trust Company, National Association
  - Value: $3.0 billion principal amount
  - Effective: 2026-05-14
  source text: On May 14, 2026 (the “Closing Date”) , IREN Limited (the “Company”) issued $3.0 billion principal amount of its 1.00% Convertible Senior Notes due 2033 (the “Convertible Notes”). The Convertible Notes were issued pursuant to, and are governed by, an indenture (the “Indenture”), dated as of the Closing Date , between the Company and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1878848/000114036126021285/0001140361-26-021285-index.htm

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