Bitdeer Technologies Group BTDR shares are trading lower in Tuesday’s after-hours session after the company announced a proposed private placement of convertible senior notes.

What Happened: Bitcoin BTC/USD mining company Bitdeer announced plans to offer $300 million of convertible senior notes due 2031 in a private placement to institutional buyers. The company plans to grant the initial purchasers a 13-day window to purchase up to an additional $45 million of the notes.

Bitdeer expects to use a portion of the proceeds to pay the cost of a zero-strike call option transaction and to pay the cash consideration for concurrent note exchange transactions that involve privately negotiated…

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