IREN Ltd

IREN Ltd (IREN) priced its initial public offering on Nov 18, 2021 at $28.00 per share, above its $25.00–$27.00 range, and listed on Nasdaq Global Select. At the IPO price its market capitalization was about $1.54B. J.P. Morgan was lead-left underwriter, joined by Canaccord Genuity, Citigroup and Macquarie and others. Clifford Chance and Latham & Watkins advised the company and Davis Polk advised the underwriters.

IREN Ltd is a Bitcoin mining company that builds, owns and operates data center and electrical infrastructure for mining, primarily powered by renewable energy. Its first site, acquired in 2020, is in British Columbia, Canada.

Status

IPO

Ticker

IREN

Exchange

Nasdaq Global Select

Priced

Nov 18, 2021

IPO price

$28.00

Price range

$25.00–$27.00

Market cap at IPO price

$1.54B

First filed

Oct 25, 2021

Underwriters

J.P. Morgan, Canaccord Genuity, Citigroup, Macquarie, CLSA, TD Cowen, Cantor and Galaxy Digital Partners

Company counsel

Clifford Chance and Latham & Watkins

Underwriters' counsel

Davis Polk

Sector

Financials

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.