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Bitdeer Technologies Group (Nasdaq: BTDR) ("Bitdeer"), a world-leading technology company for Bitcoin mining and AI cloud, today announced that it intends to offer, subject to market conditions and other factors, US$400.0 million principal amount of Convertible Senior Notes due 2031 (the "notes") in a private placement (the "notes offering") to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). Bitdeer also intends to grant the initial purchasers of the notes an option to purchase, for settlement within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional US$60.0 million principal amount of notes.
The notes will be general, senior unsecured obligations of Bitdeer and will accrue interest payable semiannually in arrears. Upon conversion, Bitdeer will pay or deliver, as the case may be, cash, Class A ordinary shares, par value US$0.0000001 per share, of Bitdeer (the "Class A ordinary shares") or a combination of cash and Class A ordinary shares, at its election. The interest rate, initial conversion rate, repurchase or redemption rights and certain other terms of the notes will be determined at the time of pricing of the notes offering.
Posted In: BTDR
