Binance News
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Bitdeer Plans $400 Million Convertible Senior Notes Offering
According to PANews, Bitdeer (Nasdaq: BTDR) has announced its intention to privately issue $400 million in Convertible Senior Notes due in 2031. The company is offering initial purchasers an option to increase the issuance by up to $60 million. The interest rate and initial conversion rate will be determined based on pricing, with conversion consideration available in cash, Class A common stock, or a combination of both.
The funds raised are intended for several purposes, including entering into capped call transactions with option counterparties to hedge dilution, repurchasing its 5.25% convertible bonds due in 2029, expanding data centers, developing and manufacturing ASIC mining machines, expanding HPC and AI cloud businesses, and providing operational capital.
Bitdeer is also advancing a registered direct offering to partially repurchase the 2029 convertible bonds, with the completion of related transactions being interdependent.
The funds raised are intended for several purposes, including entering into capped call transactions with option counterparties to hedge dilution, repurchasing its 5.25% convertible bonds due in 2029, expanding data centers, developing and manufacturing ASIC mining machines, expanding HPC and AI cloud businesses, and providing operational capital.
Bitdeer is also advancing a registered direct offering to partially repurchase the 2029 convertible bonds, with the completion of related transactions being interdependent.
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