IREN Limited Announces $500 Million Convertible Notes Offering

The latest update is out from Iris Energy ( (IREN) ).

On June 11, 2025, IREN Limited announced the pricing of its upsized offering of $500 million in aggregate principal amount of 3.50% Convertible Senior Notes due 2029. The offering, which was increased from an initial $450 million, is aimed at qualified institutional buyers and is expected to close on June 13, 2025. The net proceeds, estimated at approximately $486.1 million, will be used for capped call transactions, a prepaid forward transaction, and general corporate purposes. The move is expected to enhance IREN’s financial flexibility and market positioning.

The most recent analyst rating on (IREN) stock is a Buy with a $14.00 price target. To see the full list of analyst forecasts on Iris Energy stock, see the IREN Stock Forecast page.

Spark’s Take on IREN Stock

According to Spark, TipRanks’ AI Analyst, IREN is a Neutral.

Iris Energy’s strong revenue growth and technical momentum are the most significant factors, contributing to a moderate score. However, profitability challenges and an unattractive valuation weigh down the overall score. Positive earnings call sentiment offers some optimism for future performance.

To see Spark’s full report on IREN stock, click here.

More about Iris Energy

Average Trading Volume: 14,594,332

Technical Sentiment Signal: Buy

Current Market Cap: $2.53B

See more insights into IREN stock on TipRanks’ Stock Analysis page.