Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Iris Energy Limited regarding a class action lawsuit due to alleged misleading statements and omissions related to the company's business prospects and operations [1][2]. Summary by Sections Class Action Details - The class period for the lawsuit is from June 23, 2023, to July 11, 2024 [2]. - Allegations include that defendants overstated Iris Energy's prospects related to data centers and high-performance computing, particularly due to deficiencies at the Childress County, Texas site [2]. Shareholder Actions - Shareholders are encouraged to register for the class action by December 6, 2024, to potentially be appointed as lead plaintiff [3]. - Registration allows shareholders to receive updates through portfolio monitoring software regarding the case's progress [3]. Law Firm Background - The Gross Law Firm is recognized nationally for class action lawsuits and aims to protect investors from deceit and fraud [4]. - The firm seeks recovery for investors who suffered losses due to misleading statements or omissions that inflated the company's stock price [4].

NEW YORK, Dec. 04, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Iris Energy Limited (NASDAQ: IREN) between June 20, 2023 and July 11, 2024, both dates inclusive (the “Class Period”), of the important December 6, 2024 lead plaintiff deadline. SO WHAT: If you purchased Iris Energy securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrange ...

NEW YORK, Dec. 04, 2024 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Iris Energy Limited (NASDAQ: IREN). Shareholders who purchased shares of IREN during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/iris-energy-loss-submission-form/?id=114501&from=3 CLASS PERIOD: June 23, 2023 ...

SAN DIEGO, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Iris Energy Limited (NASDAQ: IREN) publicly traded securities between June 20, 2023 and July 11, 2024, inclusive (the “Class Period”), have until this upcoming Friday, December 6, 2024 to seek appointment as lead plaintiff of the Iris Energy class action lawsuit. Captioned Williams-Israel v. Iris Energy Limited, No. 24-cv-07046 (E.D.N.Y.), the Iris Energy class action lawsuit charges Iris ...

SYDNEY, Dec. 04, 2024 (GLOBE NEWSWIRE) -- IREN Limited (NASDAQ: IREN) (ACN 629 842 799) (“IREN”) today announced the pricing of its offering of $400 million aggregate principal amount of 3.25% convertible senior notes due 2030 (the “notes”) in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Key details of the transaction $400 million convertible senior notes offering (3.25% coupo ...

Offering Details - IREN Limited announced its intention to offer $300 million aggregate principal amount of convertible senior notes due 2030 in a private offering to qualified institutional buyers [1] - The company expects to grant initial purchasers an option to purchase up to an additional $45 million principal amount of notes [1] - The notes will be senior, unsecured obligations, accrue interest payable semi-annually, and mature on June 15, 2030 [2] - Noteholders will have the right to convert their notes under certain circumstances, with IREN settling conversions through cash, ordinary shares, or a combination of both [2] Redemption and Repurchase Terms - The notes will be redeemable for cash at IREN's option starting December 20, 2027, if certain conditions are met, including the share price exceeding 130% of the conversion price [3] - In the event of a "fundamental change," noteholders may require IREN to repurchase their notes for cash at the principal amount plus accrued interest [4] Use of Proceeds - IREN plans to use a portion of the net proceeds to fund capped call transactions and a prepaid forward transaction [5] - The remainder of the net proceeds will be used for general corporate purposes and working capital [5] Capped Call Transactions - IREN expects to enter into capped call transactions with option counterparties to reduce potential dilution upon conversion of the notes [6] - The capped call transactions will cover the number of ordinary shares underlying the notes and may be adjusted if additional notes are purchased [6] - These transactions aim to offset potential cash payments exceeding the principal amount of converted notes, subject to a cap price [7] Market Impact and Hedging Activities - Option counterparties may enter into derivative transactions or purchase IREN's ordinary shares to establish initial hedges, potentially affecting the market price of IREN's shares [8][9] - The forward counterparty may modify hedge positions through derivative transactions or secondary market activities, which could influence the market price of IREN's shares and notes [10][16] Prepaid Forward Transaction - IREN expects to enter into a prepaid forward transaction to purchase up to $100 million of its ordinary shares, subject to early settlement [11] - This transaction is intended to facilitate derivative transactions between the forward counterparty and investors, allowing investors to establish short positions in IREN's shares [12] - The prepaid forward transaction could increase the market price of IREN's shares and raise the initial conversion price of the notes [13] Company Overview - IREN is a leading data center business focused on Bitcoin mining, AI cloud services, and next-generation data centers, utilizing 100% renewable energy [19][20] - The company operates 460MW of data centers, with plans to expand to 810MW by H1 2025, and has a development portfolio of 2,310MW of grid-connected power [20] - IREN's Bitcoin mining operations aim to reach 50 EH/s by H1 2025, and its AI cloud services utilize 1,896 NVIDIA H100 & H200 GPUs [20]

PHILADELPHIA, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Nationally recognized law firm Berger Montague PC informs investors that a lawsuit was filed against Iris Energy Limited (“Iris” or the “Company”) (NASDAQ: IREN) on behalf of purchasers of Iris securities between June 20, 2023 and July 11, 2024, inclusive (the “Class Period”). Investors that suffered losses from IRIS ENERGY (NASDAQ: IREN) investments can follow the link below for more information regarding the lawsuit: CLICK HERE to learn more about the lawsui ...

SAN DIEGO, Dec. 3, 2024 /PRNewswire/ -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Iris Energy Limited (NASDAQ: IREN) publicly traded securities between June 20, 2023 and July 11, 2024, inclusive (the "Class Period"), have until this Friday, December 6, 2024 to seek appointment as lead plaintiff of the Iris Energy class action lawsuit.  Captioned Williams-Israel v. Iris Energy Limited, No. 24-cv-07046 (E.D.N.Y.), the Iris Energy class action lawsuit charges Iris Energy and ce ...

Childress Phase 3 substation energized On-track for 31 EH/s this month SYDNEY, Dec. 02, 2024 (GLOBE NEWSWIRE) -- IREN Limited (NASDAQ: IREN) (together with its subsidiaries, “IREN” or “the Company”) today announced it has increased its installed self-mining capacity by 33% to 28 EH/s. 31 EH/s expansion update IREN has increased its installed capacity from 21 EH/s to 28 EH/s (15 J/TH efficiency) following the energization of its Childress Phase 3 substation. Childress Phase 3 construction is near complete an ...

SAN DIEGO, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Iris Energy Limited (NASDAQ: IREN) publicly traded securities between June 20, 2023 and July 11, 2024, both dates inclusive (the “Class Period”), have until this Friday, December 6, 2024 to seek appointment as lead plaintiff of the Iris Energy class action lawsuit. Captioned Williams-Israel v. Iris Energy Limited, No. 24-cv-07046 (E.D.N.Y.), the Iris Energy class action lawsuit charges Iri ...