Bitdeer (BTDR) closed a private placement of an additional $45 million of 4.875% convertible senior notes on June 30, per SEC filings.
The placement comes a week after a raise of $330 million in 4.875% convertible senior notes. The initial purchasers were given an option to purchase an additional $45 million.
Read More: Bitdeer raises $330 million through convertible note offering
Purchasers have fully exercised this option, bringing the total raised to $375 million. The convertible notes bear interest semi-annually at 4.875% and mature on July 1, 2031.
The notes carry an initial conversion rate of 62.9921 Class A ordinary shares per $1,000 principal amount.
This translates to a conversion price of about $15.87 per share, and a roughly 44% conversion premium based on the $11.09 close price on Friday. If fully converted, the $375 million in convertible senior notes would translate into approximately 23.6 million shares.
BTDR rose 1.5% in pre-market hours to $11.26, per Yahoo Finance.
