Bitdeer prices $43.7 million registered direct offering of shares

Bitdeer Technologies Group (NASDAQ: BTDR) announced the pricing of a registered direct offering of 5,503,030 Class A ordinary shares at $7.94 per share, according to a company statement. The offering is expected to close on February 26, 2026, subject to customary closing conditions.

The Singapore-based Bitcoin mining and AI infrastructure company estimates net proceeds of approximately $43.5 million from the registered direct offering after deducting estimated offering expenses. The shares are being sold to certain holders of the company's 5.25% convertible senior notes due 2029.

Bitdeer also announced a separate private offering of 5.00% Convertible Senior Notes due 2032, which is expected to generate net proceeds of approximately $315.1 million, or $363.7 million if initial purchasers fully exercise their option to purchase additional notes.

The company intends to use the combined proceeds to pay approximately $29.2 million for capped call transactions and approximately $138.2 million to repurchase $135.0 million in aggregate principal amount of its November 2029 notes, including accrued interest. Remaining proceeds will fund datacenter expansion, HPC and AI cloud business expansion, ASIC-based mining rig development and manufacturing, working capital and general corporate purposes.

The completion of the registered direct offering depends on the completion of the notes offering and note repurchase transactions. The note repurchase transactions are contingent on both the notes offering and registered direct offering completing.

Barclays Capital Inc. serves as placement agent and ICR Capital LLC as financial advisor for the registered direct offering. The offering is being conducted under Bitdeer's effective shelf registration statement filed with the Securities and Exchange Commission.

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