05:16 PM EDT, 06/10/2025 (MT Newswires) -- Iren ( IREN ) said late Tuesday it plans to offer $450 million of convertible senior notes due Dec. 15, 2029, in a private placement to qualified institutional buyers.

The company also expects to grant initial purchasers an option to purchase up to an additional $50 million of notes.

Iren ( IREN ) said a portion of the net proceeds will be used to fund capped call transactions and a prepaid forward share repurchase, with the remainder allocated to general corporate purposes and working capital.