Techub News reports that Bitdeer, a Bitcoin mining company listed on the US stock market, announced the issuance of $300 million principal convertible preferred notes due 2031 through a private sale to qualified institutional buyers. The company also plans to grant the initial purchasers of the notes an option to purchase up to an additional $45 million principal of the notes within 13 days from the date of the initial issuance.





The company plans to use part of the net proceeds from this issuance to pay for the costs of zero-exercise price call option transactions, as well as the cash consideration for the concurrent note exchange transactions, and to use the remaining net proceeds from this issuance for data center expansion, development and manufacturing of ASIC miners, as well as working capital and other general corporate purposes.
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