🔴 IREN is trading 4.4% down today after recent $2.3B convertible notes financing

IREN is trading at 4.4% down now at $44.78 after completing a large $2.3 billion convertible notes offering and concurrent equity raise, a move that is weighing on shares due to dilution and leverage concerns.

• The significant capital raise, involving $2.3 billion in convertible notes and an equity component, is the primary driver of the current downward pressure.
• Today's price action is tied to the ongoing digestion of this capital raise and mixed analyst sentiment, rather than a sharp, crypto-led risk-off move, as crypto prices are only modestly lower.