Iren Ltd.
IREN Announces $875 Million Convertible Notes Offering
Summary
On October 9, 2025, IREN Limited announced the pricing of its offering of $875 million aggregate principal amount of 0.00% Convertible Senior Notes due 2031. The Convertible Notes, sold to qualified institutional buyers, are convertible into IREN's ordinary shares at a conversion premium of 42.5%. The transaction is expected to close on October 14, 2025, with net proceeds intended for general corporate purposes and capped call transactions. A press release with further details is attached as Exhibit 99.1.
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About Iren Ltd.
Iren Ltd. is an energy company primarily engaged in the generation, distribution, and sale of electricity, heat, and gas throughout Italy. The company plays a crucial role in providing essential energy services to residential, commercial, and industrial sectors. It is a key player in the Italian energy market with a diverse portfolio that includes renewable energy sources, thus contributing to the country’s energy transition and sustainability goals. Iren Ltd. also actively participates in the development and management of integrated water services and environmental services, offering solutions for waste collection, treatment, and disposal. With its strategic focus on innovation and energy efficiency, the company is dedicated to enhancing its infrastructure and service quality. Iren Ltd.'s initiatives in smart city solutions and district heating projects further underscore its commitment to technological advancement and environmental sustainability. As an integral part of the Italian utility sector, Iren Ltd. works to balance energy demand with ecological responsibility, supporting the modernization of urban areas and contributing to the overall stability and development of the regional energy landscape.
Official SEC Documents
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