IFR US ECM Pricings
Bitdeer Technologies (Singapore, bitcoin mining/HPC) ─ $325m 6y cvt priced at 5%, up 25% versus 4%-5% and 25% fixed marketing. BARC, MS. Upsized from $300m. Concurrent registered direct offering of 5.5m shares at $7.94 ($43.5m). Concurrently repurchased $135m principal of 5.25% CB due in 2029 for $138.2m. Capped call to $15.88, a 100% premium.
Candel Therapeutics (US, biotech) ─ $100m ABB. 18.3m shares (Primary) at $5.45 versus $5.45-$5.65 marketing and $5.95 last sale. CITI, CANT, STFL. Wall cross. Concurrent $100m royalty sale to RTW Investments.
Select Water Solutions (US, oilfield services) ─ $175m ABB. 13.7m shares (Primary) at $12.75 versus $12.75-$13.25 marketing and $14.22 last sale. JPM, BOFA. Wall cross.