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IREN Plans $2 Billion Convertible Notes Offering

BY MT Newswires | CORPORATE | 08:18 AM EDT

08:18 AM EDT, 05/11/2026 (MT Newswires) -- Iren (IREN) said Monday it plans to issue $2 billion of convertible senior notes due 2033 in a private offering.

The company said it also expects to grant initial purchasers an option to buy up to an additional $300 million of notes within 13 days of issuance.

The company said it plans to use part of the proceeds to fund capped call transactions designed to reduce dilution from potential conversions.

It will use the remaining funds for general corporate purposes and working capital, it added.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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