By Chris Wack
Bitdeer Technologies Group shares were 17% lower, at $8, after the company said it intends to offer class A ordinary shares to certain holders of its 5.25% convertible senior notes due 2029 in a direct placement.
The technology company said the number of class A shares to be sold and the price will be determined at the pricing of the registered direct offering.
Bitdeer said it intends to use the proceeds from the registered direct offering for data-center expansion; artificial-intelligence cloud business expansion; mining-rig development and manufacture using ASIC, or application-specific integrated circuits; and working capital and other general corporate purposes.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
February 19, 2026 10:27 ET (15:27 GMT)
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