Iris Energy Limited, a Bitcoin mining company that builds, owns, and operates data center infrastructure with a focus on entry into regions where it can access abundant and/or under-utilized renewable energy to power its operations, has announced the pricing of its initial public offering of 8,269,231 ordinary shares, at a public offering price of US$28.00 per share. The underwriters of the offering will also have a 30-day option to purchase up to an additional 1,240,384 Ordinary Shares from the Company at the initial public offering price. The Ordinary Shares are expected to begin trading on the Nasdaq Global Select Market on November 17, 2021 under the ticker symbol IREN. The closing of the offering is expected to occur on November 19, 2021 subject to satisfaction of customary closing conditions.
Latham & Watkins LLP represents Iris Energy in the offering with a capital markets team led by New York partners Ian Schuman and Stelios Saffos and Orange County partner Drew Capurro, with New York associates Andrew Blumenthal, Lia-Michelle Keane, Autumn Dunn, and Jie Lin Nai. Advice was also provided on benefits & compensation matters by New York partner Bradd Williamson, with Chicago associates Leah Segall and Victoria Wolfe; on data privacy & security matters by Bay Area counsel Robert Blamires, with Bay Area associate Adriana Beach; on environmental matters by New York partner Andrew Westgate, with New York associate Ben Einhouse; on FCPA matters by Washington, D.C. partner Daniel Dominguez, with Washington, D.C. associate Emani Walks; on intellectual property matters by New York/Washington, D.C. partner Jenny Cieplak; on sanctions matters by Washington, D.C. partner Eric Volkman, with Washington, D.C. associate Matthew Gregory; on tax matters by New York partners Gregory Hannibal and Jiyeon Lee-Lim, with New York associate Sam Yang; and on public company representation matters by New York counsel Emily Corbi, with New York associate Shahar Gonen.