TechFlow news, June 18 — According to an official announcement, Bitdeer has announced its intention to privately offer $300 million in convertible senior notes due 2031 to qualified institutional buyers, with an additional $45 million in notes potentially available through an over-allotment option. The notes will constitute general senior unsecured indebtedness of the company and will accrue interest paid semi-annually.
Upon conversion, the company may choose to settle in cash, Class A ordinary shares, or a combination thereof. Proceeds from the offering will be partially used to pay costs related to zero-strike call option transactions and cash consideration for concurrent note exchange transactions. The remaining funds will be allocated toward data center expansion, ASIC-based mining machine development and manufacturing, and general working capital purposes.
