Bitdeer Announces Cleanup Redemption of All of its Outstanding Convertible Senior Note due 2029
SINGAPORE, Sept. 08, 2025 (GLOBE NEWSWIRE) -- Bitdeer Technologies Group (NASDAQ:BTDR) ("Bitdeer" or the "Company"), a world-leading technology company for Bitcoin mining, today announced that it issued a notice of cleanup redemption for all $7,700,000 aggregate principal amount outstanding of its 8.50% convertible senior notes due 2029 (the "notes"). The cleanup redemption date will be September 23, 2025. The redemption price with respect to any redeemed note will equal 100% of the principal amount thereof, plus accrued and unpaid interest, from August 15, 2025, to, but excluding the cleanup redemption date. On the cleanup redemption date, the redemption price will become due and payable upon each note to be redeemed and interest thereon will cease to accrue on and after the cleanup redemption date.
The notes may be converted by holders at any time before 5:00 p.m. (New York City time) on September 19, 2025 (the "conversion deadline"). The conversion rate for notes converted after today and through the conversion deadline is equal to 127.9743 Class A ordinary shares of Bitdeer, par value $0.0000001 per share (the "Class A ordinary shares"), per $1,000 principal amount of the notes, which includes an increase to the conversion rate of 10.9536 Class A ordinary shares of per $1,000 principal amount of the notes as a result of the notes being called for cleanup redemption. Bitdeer has elected to settle any conversions of the notes during the cleanup redemption period by delivering Class A ordinary shares, together with cash, if applicable, in lieu of delivering any fractional Class A ordinary share.
About Bitdeer Technologies Group
Bitdeer is a world-leading technology company for Bitcoin mining. Bitdeer is committed to providing comprehensive Bitcoin mining solutions for its customers. The Company handles complex processes involved in computing such as equipment procurement, transport logistics, datacenter design and construction, equipment management, and daily operations. The Company also offers advanced cloud capabilities to customers with high demand for artificial intelligence. Headquartered in Singapore, Bitdeer has deployed datacenters in the United States, Norway, and Bhutan.
Forward-Looking Statements
Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The words "anticipate," "look forward to," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Such forward-looking statements include, among others, statements relating to Bitdeer's expectations regarding the completion of the cleanup redemption of the notes. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including risks and uncertainties associated with executing the cleanup redemption of the notes and events that could impact the terms of the cleanup redemption,, as well as discussions of potential risks, uncertainties and other factors discussed in the section entitled "Risk Factors" in Bitdeer's annual report on Form 20-F, as well as those discussed in Bitdeer's subsequent filings with the U.S. Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements as there are important factors that could cause actual results to differ materially from those in forward-looking statements, many of which are beyond Bitdeer's control. Any forward-looking statements contained in this press release speak only as of the date hereof. Bitdeer specifically disclaims any obligation to update any forward-looking statement, whether due to new information, future events, or otherwise. Readers should not rely upon the information on this page as current or accurate after its publication date.
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