TechFlow news, December 4 — According to The Block, IREN announced on December 3 the completion of its financing plan totaling over $3.6 billion, including $1.6 billion in equity funding and $2 billion in convertible bond issuance. The proceeds will be used to repay existing low-priced convertible bonds and strengthen the balance sheet to support large-scale expansion of the company's AI cloud business. The newly issued convertible bonds consist of $1 billion in 0.25% notes due 2032 and $1 billion in 1.00% notes due 2033, with an initial conversion price of approximately $51.40 per share, significantly higher than the previous bonds' conversion price of $17.
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