Latham & Watkins Advises on IREN’s US$875 Million Convertible Notes Offering

IREN Limited (NASDAQ: IREN), a leading developer, owner, and operator of next-generation data centers powering the future of Bitcoin, AI, and beyond utilizing 100% renewable energy, has announced the pricing of its offering of US$875 million aggregate principal amount of 0.00% convertible senior notes due 2031 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933.

Latham & Watkins LLP represented the initial purchasers in the offering with a Capital Markets team led by Stelios Saffos, Global Chair of Latham’s Capital Markets Practice, and partners Brittany Ruiz and Drew Capurro, with associates Sara Johnson, Eric Finkelberg, Madison Venezia, and Zafreen Siddiquee. Advice was provided on convertible debt matters by partner Andrew Blumenthal, with associates Ryan Gold and Andrew Bentz; on derivatives matters by partner Reza Mojtabaee-Zamani, with associates Shawn Noh and Henry Lin; on tax matters by partner Elena Romanova, with associate Joyce Shin; on crypto and digital assets matters by partner Jenny Cieplak; and on compliance matters by partner Eric Volkman, with associates Matthew Gregory and Shaza Loutfi.