Bitdeer Announces Pricing of Registered Direct Offering of 5,503,030 Class A Ordinary Shares

Core Viewpoint - Bitdeer Technologies Group has announced a registered direct offering of 5,503,030 Class A ordinary shares at a price of US$7.94 per share, aiming to raise approximately US$43.5 million in net proceeds, which will be used for various corporate purposes including debt repayment and business expansion [1][2][3]. Group 1: Offering Details - The registered direct offering is priced at US$7.94 per Class A ordinary share and is expected to close on February 26, 2026, subject to customary closing conditions [1]. - The net proceeds from the registered direct offering are estimated to be around US$43.5 million after deducting offering expenses [2]. - The offering is part of a broader financing strategy that includes a separate private offering of 5.00% Convertible Senior Notes due 2032, which could raise approximately US$315.1 million [2]. Group 2: Use of Proceeds - Bitdeer plans to allocate approximately US$29.2 million of the proceeds to cover the costs of capped call transactions [3]. - An estimated US$138.2 million will be used to repurchase US$135.0 million of its 5.25% convertible senior notes due 2029 [3]. - Remaining proceeds will be directed towards datacenter expansion, high-performance computing (HPC) and AI cloud business expansion, ASIC-based mining rig development, and general corporate purposes [3]. Group 3: Transaction Contingencies - The completion of the registered direct offering is contingent upon the successful completion of the notes offering and the note repurchase transactions [4]. - The notes offering is not contingent on the completion of the registered direct offering or the note repurchase transactions [4]. Group 4: Company Overview - Bitdeer Technologies Group is a leading technology company specializing in Bitcoin mining and AI infrastructure, providing comprehensive solutions including equipment procurement, datacenter design, and operations [7][8]. - The company is headquartered in Singapore and has deployed datacenters in various countries including the United States, Norway, and Bhutan [8].