Bitdeer Technologies falls on planned $360 mln convertible bonds sale
** Shares of bitcoin miner Bitdeer Technologies BTDR.O down 8.9% post-market at $10.20 on planned capital raise
** Singapore-based firm announces proposed offering of $360 mln convertible bonds (CBs) due 2029
** It plans to use portion of net proceeds to pay cost of zero-strike calls, remainder for datacenter expansion, ASIC based mining rig development and manufacture, and for other purposes
** Concurrent with pricing, co says expects to enter into privately negotiated exchange transactions with one or more holders of its existing 8.50% CBs due 2029 for cash and Class A ordinary shares
** BTDR shares on Thurs closed down 5.9% at $11.19, giving co ~$1.6 bln market cap, per LSEG data
** Stock has gained 60% over the past three months, putting them up 13.5% YTD
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
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