Bitdeer Technologies Group announced the pricing of its upsized US$330.0 million principal amount of 4.875% Convertible Senior Notes due 2031 in a private placement. The offering size was increased from the previously announced US$300.0 million.
The notes will mature on July 1, 2031, and have an initial conversion rate of 62.9921 Class A ordinary shares per US$1,000 principal amount, equivalent to an initial conversion price of approximately US$15.88 per share. This conversion price represents a premium of approximately 25.0% over the last reported sale price of Class A ordinary shares on June 17, 2025.
The estimated net proceeds from the offering are approximately US$319.6 million, or US$363.3 million if the option for additional notes is fully exercised. Bitdeer intends to use these proceeds for datacenter expansion, ASIC-based mining rig development and manufacture, working capital, and other general corporate purposes, including a zero-strike call option transaction and concurrent note exchange transactions for existing August 2029 notes.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.