{"id":33718,"date":"2025-06-25T18:17:00","date_gmt":"2025-06-25T18:17:00","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=33718"},"modified":"2025-06-25T18:17:00","modified_gmt":"2025-06-25T18:17:00","slug":"bitdeer-raises-330m-via-convertible-note-sale","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=33718","title":{"rendered":"Bitdeer Raises $330M Via Convertible Note Sale"},"content":{"rendered":"<div>\n<p>Bitcoin miner and ASIC manufacturer Bitdeer Technologies (BTDR) <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1899123\/000121390025056729\/ea0246533-6k_bitdeer.htm\">has completed<\/a> a $330 million private placement of convertible senior notes maturing July 1, 2031. The notes bear interest at 4.875% and feature a conversion price of $15.87 per share \u2014 about 44% above BTDR\u2019s current $11 trading price.<\/p>\n<p>The bond\u2019s conversion rate of 62.9921 Class A shares per $1,000 principal means full conversion could yield roughly 20.8 million new shares. To cover this, Bitdeer prepaid Barclays $129.6 million for a call option with a zero strike price on over 10.2 million shares, or 49% of the conversion total. The option allows Bitdeer to settle conversions using shares from Barclays\u2019 inventory rather than tying up its own stock.<\/p>\n<p>Bitdeer, is <a href=\"https:\/\/ir.bitdeer.com\/news-releases\/news-release-details\/bitdeer-announces-pricing-upsized-us3300-million-convertible\">using<\/a> roughly $129.6 million of the proceeds to fund the zero-strike call option, $36.1 million to pay the cash consideration for its concurrent note exchange transactions, and the remaining funds for datacenter expansion, the development of its ASIC manufacturing and working capital.<\/p>\n<p>The company is currently <a href=\"https:\/\/www.coindesk.com\/tech\/2025\/03\/13\/bitdeer-wants-to-revolutionize-the-asic-manufacturing-market-here-s-how\">working on new ASIC chip designs<\/a> that could potentially make its mining rigs substantially more efficient than current models.<\/p>\n<p>Shares are marginally lower in Wednesday trade.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin miner and ASIC manufacturer Bitdeer Technologies (BTDR) has completed a $330 million private placement of convertible senior notes maturing July 1, 2031. The notes bear interest at 4.875% and feature a conversion price of $15.87 per share \u2014 about 44% above BTDR\u2019s current $11 trading price. The bond\u2019s conversion rate of 62.9921 Class A [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-33718","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/33718","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33718"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/33718\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33718"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33718"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33718"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}