Bitdeer Launches $400 Million Convertible Notes Offering
Deal News | Dec 03, 2024 | Goodwin
Goodwin's Capital Markets team successfully represented the initial purchasers in Bitdeer Technologies Group's Rule 144A offering for $400 million aggregate principal value of 5.25% Convertible Senior Notes due 2029. The legal firm advised an investment bank on executing a zero-strike call option with Bitdeer, which facilitated a larger offering size. Bitdeer utilized part of the offering's proceeds to purchase the call option and repurchased its existing notes. Headquartered in Singapore, Bitdeer is a leader in blockchain, AI, and high-performance computing, with datacenters in the US, Norway, and Bhutan. The legal advisory team at Goodwin was comprised of specialists in various domains, including blockchain, tax, and global trade.
Sectors
- Financial Services
- Technology
Geography
- Singapore – Bitdeer is headquartered here, making it a primary location for their operations.
- United States – One of the countries where Bitdeer has deployed datacenters, indicating the importance of this geography for their operations.
- Norway – Bitdeer's data center deployment in Norway highlights its operational presence here.
- Bhutan – Inclusion in the operation sites of Bitdeer, signifying strategic global reach.
Industry
- Financial Services – Relevant to the article as it discusses a financial transaction involving convertible senior notes and investment banking services.
- Technology – Applies due to Bitdeer's position as a leader in blockchain and high-performance computing technologies.
Financials
- 400,000,000 – The aggregate principal amount of the 5.25% Convertible Senior Notes offered by Bitdeer.
- 74,800,000 – Amount used by Bitdeer from the proceeds to repurchase its 8.50% Convertible Senior Notes.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Bitdeer Technologies Group | Target company | Company | A leading technology company in blockchain and high-performance computing. |
| Goodwin | Legal advisor | Company | The legal firm that represented the initial purchasers in the transaction. |
| Jim Barri, John Servidio, Kim de Glossop, Tom Underwood | Product team | People | Members of Goodwin's team involved in the transactional advice. |
| Ben Marsh, Justin Platt, Alicia Tschirhart, Lauren Zhang, Haylee Brown, Sasha Gawronska Madani | Corporate team | People | Corporate team at Goodwin involved in the transaction. |
| Mitzi Chang, Bill Stern, Dan Karelitz, Garrett Gaughan, Jason Wilcox | Regulatory and specialist teams | People | Specialists at Goodwin focusing on digital currency, AML, tax, and global trade. |