secwatch.observer — SEC 8-K summary
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Issuer:     IREN Ltd (IREN)
CIK:        0001878848
Form:       8-K
Filed at:   2026-05-14T20:06:36+00:00
Accession:  0001140361-26-021285
Event type: debt
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1878848/000114036126021285/0001140361-26-021285-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1878848/000114036126021285/ef20073507_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-26-021285

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