IREN Stock, Convertible Notes Offerings Send Shares Lower

Core Viewpoint - IREN Limited announced a registered direct offering of ordinary shares and $1 billion in convertible senior notes due in 2032 and 2033, leading to a decline in stock price during extended trading hours [1][3]. Group 1: Offering Details - The company is conducting a private offering of ordinary shares to fund the repurchase of its existing convertible notes due in 2029 and 2030 [2]. - In addition to the ordinary shares, IREN plans to offer $1 billion in convertible senior notes due 2032 and another $1 billion due 2033, with the option for original purchasers to buy an additional $150 million of each offering [3]. Group 2: Stock Performance - Following the announcement, IREN's stock price fell by 6.37%, reaching $45.40 during Monday's extended trading [3].