Bitdeer Technologies Group announced it has issued a notice of cleanup redemption for all US$7,700,000 aggregate principal amount outstanding of its 8.50% convertible senior notes due 2029. The cleanup redemption date is set for September 23, 2025.
The redemption price for any redeemed note will be 100% of the principal amount, plus accrued and unpaid interest from August 15, 2025, up to the redemption date. Interest on these notes will cease to accrue on and after the cleanup redemption date.
Holders have the option to convert their notes into Class A ordinary shares before 5:00 p.m. (New York City time) on September 19, 2025. The conversion rate for notes converted during this period is 127.9743 Class A ordinary shares per US$1,000 principal amount, which includes an increase of 10.9536 shares due to the redemption call. Bitdeer has elected to settle any conversions by delivering Class A ordinary shares, along with cash for any fractional shares.
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