04:59 PM EST, 12/03/2024 (MT Newswires) -- Iris Energy ( IREN ) said late Tuesday it plans to offer $300 million in convertible senior notes due 2030.

The company said it expects to offer the initial purchasers of the notes an option to buy up to an additional $45 million in principal amount of notes, with settlement available within 13 days from the issuance date.

The company plans to use the proceeds for capped call transactions, prepaid forward transactions, and general corporate purposes.

Shares of Iris Energy ( IREN ) were down 1.4% in after-hours activity.