SINGAPORE, Aug. 15, 2024 (GLOBE NEWSWIRE) -- Bitdeer Technologies Group (NASDAQ:BTDR) ("Bitdeer" or the "Company"), a world-leading technology company for blockchain and high-performance computing, today announced a proposed registered underwritten public offering (the "Offering") by the Company of US$150,000,000 aggregate principal amount of its convertible senior notes due 2029 (the "Notes"), subject to market and other conditions. The Company also intends to grant 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.
The Notes will be senior, unsecured obligations of the Company. The Notes will mature on August 15, 2029, unless earlier converted, redeemed or repurchased. Holders may convert their notes at their option prior to the close of business on the second scheduled trading day immediately preceding the maturity date. Upon conversion, the Company will pay or deliver to such converting holders, as the case may be, cash, Class A ordinary shares, par value US$0.0000001 per share, of the Company (the "Class A ordinary shares") or a combination of cash and Class A ordinary shares, at its election. The interest rate, initial conversion rate and certain other terms of the Notes will be determined at the time of pricing of the Notes.
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.
BTIG is acting as book-running manager for the Offering. A.G.P./Alliance Global Partners is acting as co-manager for the Offering.
The Offering will be made pursuant to an effective ...
