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Benzinga
Benzinga
Business
Adam Eckert

IREN Shares Are Sliding Today: What's Going On?

IREN Nasdaq
IREN Limited

IREN Ltd (NASDAQ:IREN) shares are moving lower on Wednesday following a proposed offering of convertible senior notes.

What Happened: Iren announced plans to offer $875 million of convertible senior notes due 2031 in a private offering to institutional investors. The company said it expects to grant the initial purchasers a 13-day option to purchase up to an additional $125 million of the notes.

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