Latham Advises on IREN’s US$2 Billion Convertible Notes Offering and Ordinary Shares Offering to Fund the Repurchase of Convertible Notes

IREN Limited (NASDAQ: IREN) has announced the pricing of its offering of US$1 billion aggregate principal amount of 0.25% convertible senior notes due 2032 and US$1 billion aggregate principal amount of 1.00% convertible senior notes due 2033 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. IREN also announced the pricing of its previously announced registered direct placement of 39,699,102 of its ordinary shares, at an offering price of US$41.12 per share to a limited number of purchasers to fund the repurchase of convertible notes.

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