IREN Declines 6% on $875M Convertible Note Offering

High-performance computing firm IREN (IREN) stock slipped 6% on Tuesday post-market after announcing a $875 million convertible debt offering. The offering may increase to $1 billion if initial purchasers take up an option to buy an additional $125 million, the press release said. The notes will be unsecured and give holders the right to convert into IREN shares or cash under certain conditions, with maturity set for July 2031. The firm said proceeds will fund general operations and capped call transacti ...