Bitdeer announces registered direct offering of Class A shares

Bitdeer Technologies Group (NASDAQ: BTDR) announced plans for a registered direct offering of Class A ordinary shares to certain holders of its 5.25% convertible senior notes due 2029. The Bitcoin mining and AI infrastructure company said the number of shares and price will be determined at pricing.

The company intends to use net proceeds from the offering, along with proceeds from a separate private offering of convertible senior notes due 2032, to pay costs for capped call transactions and cash consideration for repurchasing a portion of the November 2029 notes in privately negotiated transactions.

Remaining proceeds will fund datacenter expansion, high-performance computing and AI cloud business expansion, ASIC-based mining rig development and manufacturing, working capital and general corporate purposes, according to the press release.

The registered direct offering's completion depends on completing the notes offering and note repurchase transactions. The note repurchase transactions require completion of both the notes offering and registered direct offering. The notes offering is not contingent on the other transactions.

Bitdeer is conducting the offering under its effective shelf registration statement on Form F-3 filed with the Securities and Exchange Commission, which became effective December 18, 2024. Barclays Capital Inc. serves as placement agent and ICR Capital LLC acts as financial advisor.

The Singapore-headquartered company operates datacenters in the United States, Norway, and Bhutan, providing Bitcoin mining solutions and AI cloud capabilities to customers.

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