Bitdeer Closes 8.50% Convertible Senior Notes Offering
Ticker: BTDR · Form: 6-K · Filed: Aug 20, 2024 · CIK: 1899123
| Field | Detail |
|---|---|
| Company | Bitdeer Technologies Group (BTDR) |
| Form Type | 6-K |
| Filed Date | Aug 20, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 1 min |
| Key Dollar Amounts | $172,500,000, $22,500,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt-offering, convertible-notes, financing
TL;DR
Bitdeer just closed its 8.50% Convertible Senior Notes offering, raising capital.
AI Summary
Bitdeer Technologies Group announced the closing of its offering of 8.50% Convertible Senior Notes due 2029 on August 20, 2024. The offering raised an unspecified amount of capital through the issuance of these notes.
Why It Matters
This offering provides Bitdeer with capital, potentially for expansion or operational needs, impacting its financial flexibility and future growth prospects.
Risk Assessment
Risk Level: medium — Convertible notes can increase share count dilution if converted, and the interest rate suggests the company may be seeking capital at a higher cost.
Key Players & Entities
- Bitdeer Technologies Group (company) — Issuer of the convertible notes
- 8.50% Convertible Senior Notes due 2029 (dollar_amount) — Type of debt instrument offered
- August 20, 2024 (date) — Closing date of the offering
FAQ
What is the principal amount of the 8.50% Convertible Senior Notes due 2029 that Bitdeer Technologies Group offered?
The filing does not specify the principal amount of the notes offered.
What is the maturity date for the 8.50% Convertible Senior Notes?
The notes are due in 2029.
What is the interest rate on the convertible notes?
The interest rate is 8.50% per annum.
What is the purpose of this Form 6-K filing?
This Form 6-K is to report on the closing of the offering of Bitdeer Technologies Group's 8.50% Convertible Senior Notes.
In which jurisdiction is Bitdeer Technologies Group incorporated?
Bitdeer Technologies Group is incorporated in E9 (Cayman Islands).
Filing Stats: 356 words · 1 min read · ~1 pages · Grade level 10.4 · Accepted 2024-08-20 16:02:16
Key Financial Figures
- $172,500,000 — 24, Bitdeer Technologies Group issued US$172,500,000 aggregate principal amount of Convertib
- $22,500,000 — mount of Convertible Notes (including US$22,500,000 aggregate principal amount of Convertib
Filing Documents
- ef20034137_6k.htm (6-K) — 15KB
- ef20034137_ex1-1.htm (EX-1.1) — 324KB
- ef20034137_ex4-1.htm (EX-4.1) — 334KB
- ef20034137_ex4-2.htm (EX-4.2) — 616KB
- ef20034137_ex5-1.htm (EX-5.1) — 93KB
- ef20034137_ex5-2.htm (EX-5.2) — 20KB
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- 0001140361-24-037915.txt ( ) — 2087KB
From the Filing
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of August 2024 Commission file number: 001-41687 BITDEER TECHNOLOGIES GROUP 08 Kallang Avenue Aperia tower 1, #09-03/04 Singapore 339509 (Address of Principal Executive Offices) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F Form 40-F INCORPORATION BY REFERENCE This report on Form 6-K is hereby incorporated by reference in the registration statements of Bitdeer Technologies Group on Form F-3 (No. 333-273905, No. 333-278027, No. 333-278029 and No. 333-280041 ), to the extent not superseded by documents or reports subsequently filed or furnished . EXPLANATORY NOTE The exhibits relate to the closing of the offering of Bitdeer Technologies Group's 8.50% Convertible Senior Notes due 2029 (the "Convertible Notes"), priced on August 15, 2024. On August 20, 2024, Bitdeer Technologies Group issued US$172,500,000 aggregate principal amount of Convertible Notes (including US$22,500,000 aggregate principal amount of Convertible Notes pursuant to the exercise in full by the underwriters in that offering of their over-allotment option to purchase additional Convertible Notes). EXHIBITS Exhibit No. Description 1.1 Underwriting Agreement, dated August 15, 2024, between Bitdeer Technologies Group and BTIG, LLC, relating to the Convertible Notes 4.1 Indenture, dated August 20, 2024, between Bitdeer Technologies Group and U.S. Bank Trust Company, National Association 4.2 First Supplemental Indenture, dated August 20, 2024, between Bitdeer Technologies Group and U.S. Bank Trust Company, National Association 5.1 Opinion of Ogier relating to the Class A ordinary shares and the Convertible Notes 5.2 Opinion of Cooley LLP relating to the Convertible Notes 23.1 Consent of Ogier (included in Exhibit 5.1) 23.2 Consent of Cooley LLP (included in Exhibit 5.2) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Bitdeer Technologies Group By: /s/ Jihan Wu Name: Jihan Wu Title: Chairman of the Board and Chief Executive Officer Date: August 20, 2024