Bitdeer Announces Proposed Offering of US$150 Million Convertible Notes

Core Viewpoint - Bitdeer Technologies Group is proposing a public offering of US$150 million in convertible senior notes due 2029, with an additional option for underwriters to purchase up to US$22.5 million to cover over-allotments, aimed at funding datacenter expansion and other corporate purposes [1][2]. Group 1: Offering Details - The offering consists of US$150 million aggregate principal amount of convertible senior notes, maturing on August 15, 2029, unless converted or redeemed earlier [1][2]. - The notes will be senior, unsecured obligations, and holders can convert them into cash, Class A ordinary shares, or a combination of both prior to maturity [2]. - The interest rate and initial conversion rate will be determined at the time of pricing [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for datacenter expansion, development of ASIC-based mining rigs, working capital, and other general corporate purposes [2]. Group 3: Underwriters and Regulatory Compliance - BTIG is the book-running manager for the offering, with A.G.P./Alliance Global Partners acting as co-manager [3]. - The offering will be made under an effective shelf registration statement filed with the SEC, with related documents available on the SEC's website [3][4]. Group 4: Company Overview - Bitdeer is a leading technology company focused on blockchain and high-performance computing, providing comprehensive computing solutions including datacenter design and construction [5]. - The company operates datacenters in the United States, Norway, and Bhutan, and offers advanced cloud capabilities for high-demand artificial intelligence applications [5].