Markets
What to know:
- IREN has embarked on a grand financial ballet, closing a $1.0 billion convertible notes offering 🎭, complete with capped calls (because nothing says “I’m in control” like a hat on a stick).
- TeraWulf plans to issue $3.2 billion in senior secured notes to fund its Lake Mariner data center expansion-because who doesn’t want to build a digital castle in Barker, New York? 🏰
Artificial intelligence and high performance computing (AI/HPC) miners continue to surge pre-market, like overzealous actors in a West End play. 🚀
IREN (IREN) is up 6% pre-market above $73 per share, after closing a $1 billion private offering of 0.00% convertible senior notes due 2031. The deal was oversubscribed (read: investors couldn’t resist) and included a fully exercised $125 million greenshoe. 🌱
The notes carry a 42.5% conversion premium, while net proceeds of approximately $979 million will support general corporate purposes and $56.7 million in capped call transactions-because why not hedge against dilution with a side of chaos? 💸
TeraWulf (WULF) announced on Tuesday that its subsidiary, WULF Compute LLC, plans to issue $3.2 billion in senior secured notes due 2030 to finance the expansion of its Lake Mariner data center in Barker, New York. TeraWulf will also provide completion guarantees (because nothing says “trust” like a signed IOU). Shares were up 10% on Tuesday and 3% higher in pre-market trading on Wednesday at $15.94. 📈
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2025-10-15 15:49