This week, IREN executed the most significant change to its capital structure in company history. Three moves, one objective: reshape the balance sheet ahead of the next phase of growth.
Issued roughly $1.63b worth of shares
Used the cash to retire a large portion of its existing convertible debt
Launched a new $2.3b convertible note offering
There is no doubt these moves will have major implications for the business and its shareholders going forward.
In this in-depth analysis, Iβll walk you through each step and provide the necessary context so you can fully understand IRENβs monumental balance sheet restructuring, without getting overwhelmed by complex financial jargon.
Enjoy!