Professional
Added to YB: 2024-12-05
Pitch date: 2024-12-04
IREN [neutral]
IREN Limited
+102.47%
current return
Author Info
Lake Cornelia Research Management provides managed accounts and bespoke advisory services to family offices & investment funds. Follow on Twitter/X.
Company Info
IREN Limited operates as a vertically integrated AI cloud services platform in Australia and Canada. It develops, owns, and operate data centers, including the associated land, grid connections, and substations, as well as buildings and cooling.
Market Cap
$16.3B
Pitch Price
$15.01
Price Target
N/A
Dividend
N/A
EV/EBITDA
474.89
P/E
-18.57
EV/Sales
25.76
Sector
Software
Category
special_situation
IREN Limited's Convertible Bond Offering: Balancing Growth and Dilution Risks
IREN (special sit): $300M 144a convert deal launch, likely upsized 20%+15% greenshoe. Capped call included. Est. 40% up/0% interest pre-cap. ~15M shares short demand. $CORZ/$MARA off low teens post-deals. IREN may outperform due to telegraphed convert, positive update, recent weakness. $300M size fits needs.
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