By Adriano Marchese
Bitdeer Technologies Group shares fell in premarket trading after the company said it plans to raise $148.4 million and $388 million, respectively, in share and debt offerings.
Shares lost 23% to $10.75 in premarket trading. As of Wednesday's $13.94 close, it was down 36% year to date.
The bitcoin-mining and artificial-intelligence cloud company on Thursday said it is offering 10.7 million class A ordinary shares at a price of $13.94 apiece.
Bitdeer intends to use the proceeds to pay the cost of the capped-call transactions that Bitdeer entered into with one of the initial purchasers or its affiliate and other financial institutions, as well as to repurchase its 2029 notes.
The Singapore-based company also said it is offering $400 million principal amount of 4% convertible senior notes due 2031. Proceeds from this will be about $388 million, it said.
The initial conversion rate of the notes will be 56.2635 Class A ordinary shares per $1,000 principal amount of such notes, which is equivalent to an initial conversion price of about $17.77 per Class A ordinary share, Bitdeer said.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
November 13, 2025 09:43 ET (14:43 GMT)
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