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Bitdeer Technologies Group (NASDAQ:BTDR) ("Bitdeer" or the "Company"), a world-leading technology company for blockchain and high-performance computing, today announced the pricing of its underwritten public offering (the "Offering") of US$150,000,000 aggregate principal amount of 8.50% convertible senior notes due 2029 (the "Notes"). The sale of the Notes is expected to close on August 20, 2024, subject to customary closing conditions. The Company also granted the underwriters in the Offering a 30-day option to purchase up to an additional US$22,500,000 aggregate principal amount of Notes on the same terms and conditions, solely to cover over-allotments.
Bitdeer estimates that the net proceeds from the Offering will be approximately US$144.5 million (or approximately US$166.3 million if the underwriters exercise their over-allotment option in full), after deducting the underwriters' discounts and commissions and estimated offering expenses payable by Bitdeer.
The Company intends to use the net proceeds from the Offering for datacenter expansion, ASIC based mining rig development as well as working capital and other general corporate purposes.
Posted In: BTDR
