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SINGAPORE, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Bitdeer Technologies Group (Nasdaq: BTDR) (“Bitdeer” or the “Company”), a world-leading technology company for blockchain and high-performance computing, today announced that it intends to offer, subject to market conditions and other factors, US$360.0 million principal amount of Convertible Senior Notes due 2029 (the “notes”) in a private placement (the “offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Company also intends to grant the initial purchasers of the notes an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional US$40.0 million principal amount of notes. The notes will be general senior unsecured obligations of the Company and will accrue interest payable semiannually in arrears. Upon conversion, the Company will pay or deliver, as the case may be, cash, Class A ordinary shares par value US$0.0000001 per share, of the Company (the “Class A ordinary shares”) or a combination of cash and Class A ordinary shares, at its election. The interest rate, initial conversion rate, repurchase or redemption rights and certain other terms of the notes will be determined at the time of pricing of the offering. The Company intends to use a portion of the net proceeds from the offering to pay the cost of the zero-strike call option transaction and to pay the cash consideration for the concurrent note exchange transactions, each as described below. The Company intends to use the remaining net proceeds from the offering for datacenter expansion, ASIC based mining rig development and manufacture, as well as working capital and other general corporate purposes. If the initial purchasers exercise their option to purchase additional notes, the Company expects to use the net proceeds from the sale of the additional notes for datacenter expansion, ASIC based mining rig development and manufacture, as well as working capital and other general corporate purposes as described above. In connection with the pricing of the notes, the Company intends to enter into a privately negotiated zero-strike call option transaction with one of the initial purchasers or its affiliate (the “option counterparty”). Pursuant to the zero-strike call option transaction, the Company would pay a premium for the right to receive, without further payment, a specified number of Class A ordinary shares (subject to customary adjustment), with delivery thereof by the option counterparty at expiry, subject to early settlement of the zero-strike call option transaction in whole or in part at the option counterparty’s discretion. In the case of settlement at expiration or upon any early settlement, the option counterparty would deliver to the Company the number of Class A ordinary shares underlying the zero-strike call option transaction or the portion thereof being settled early. The zero-strike call option transaction is intended to facilitate privately negotiated derivative transactions with respect to the Class A ordinary shares between the option counterparty (or its affiliate) and certain investors in the notes by which those investors will be able to hedge their investment in the notes. Those activities, which are expected to occur concurrently with or shortly after the pricing of the offering, could increase (or reduce the size of any decrease in) the market price of the Class A ordinary shares and/or the notes at that time. The option counterparty (or its affiliate) may modify its hedge positions by entering into or unwinding derivative transactions with respect to the Class A ordinary shares and/or purchasing or selling Class A ordinary shares or other securities of the Company in secondary market transactions at any time following the pricing of the notes and shortly before or after the expiry or early settlement of the zero-strike call option transaction, and, the Company has been advised that the option counterparty may unwind its derivative transactions and/or purchase or sell the Class A ordinary shares in connection with the expiry of the zero-strike call option transaction or any early settlement of the zero-strike call option transaction at the option counterparty’s discretion, including any early settlement relating to any conversion, repurchase or redemption of the notes. Those activities could also increase (or reduce the size of any decrease in) or decrease (or reduce the size of any increase in) the market price of the Class A ordinary shares and/or the notes. If the zero-strike call option transaction fails to become effective, whether or not the offering is completed, the option counterparty may unwind its hedge positions with respect to the Class A ordinary shares, which could adversely affect the market price of the Class A ordinary shares and, if the notes have been issued, the market price of the notes. Concurrently with the pricing of the notes in the offering, the Company expects to enter into one or more privately negotiated transactions with one or more holders of 8.50% convertible senior notes due 2029 (the “existing 2029 notes”) to exchange for cash and Class A ordinary shares certain of its existing 2029 notes on terms to be negotiated with each holder (each, a "note exchange transaction"). The terms of each note exchange transaction will depend on a variety of factors. No assurance can be given as to how much, if any, of the existing 2029 notes will be exchanged or the terms on which they will be exchanged. This press release is not an offer to exchange the existing 2029 notes, and the offering of the notes is not contingent upon the exchange of the existing 2029 notes. In connection with any note exchange transaction, the Company expects that holders of the existing 2029 notes who agree to have their existing 2029 notes exchanged and who have hedged their equity price risk with respect to such notes (the “hedged holders”) will unwind all or part of their hedge positions by buying the Class A ordinary shares and/or entering into or unwinding various derivative transactions with respect to the Class A ordinary shares. The amount of the Class A ordinary shares to be purchased by the hedged holders or in connection with such derivative transactions may be substantial in relation to the historical average daily trading volume of the Class A ordinary shares. This activity by the hedged holders could increase (or reduce the size of any decrease in) the market price of the Class A ordinary shares, including concurrently with the pricing of the notes. The Company cannot predict the magnitude of such market activity or the overall effect it will have on the price of the notes or the Class A ordinary shares. The notes and any Class A ordinary shares issuable upon conversion of the notes have not been and will not be registered under the Securities Act, any state securities laws or the securities laws of any other jurisdiction, and unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws. This press release is neither an offer to sell nor a solicitation of an offer to buy any of these securities nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification thereof under the securities laws of any such state or jurisdiction. About Bitdeer Technologies Group Bitdeer is a world-leading technology company for blockchain and high-performance computing. Bitdeer is committed to providing comprehensive computing solutions for its customers. The Company handles complex processes involved in computing such as equipment procurement, transport logistics, datacenter design and construction, equipment management, and daily operations. The Company also offers advanced cloud capabilities to customers with high demand for artificial intelligence. Headquartered in Singapore, Bitdeer has deployed datacenters in the United States, Norway, and Bhutan. Forward-Looking Statements Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The words “anticipate,” “look forward to,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Such forward-looking statements include, among others, statements relating to Bitdeer’s expectations regarding the proposed terms and the completion, timing and size of the proposed offering, the note exchange transactions and the zero-strike call option transaction, the expected use of proceeds from the sale of the notes and potential impact of the foregoing or related transactions on the market price of the Class A ordinary shares or the trading price of the notes. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including risks and uncertainties associated with market conditions, whether Bitdeer will offer the notes, enter into the note exchange transactions and the zero-strike call option transaction or be able to consummate the proposed offering, the note exchange transactions and the zero-strike call option transaction at the anticipated size or on the anticipated terms, or at all, and the satisfaction of closing conditions related to the proposed offering and the note exchange transactions, as well as discussions of potential risks, uncertainties and other factors discussed in the section entitled “Risk Factors” in Bitdeer’s annual report on Form 20-F, as well as those discussed in Bitdeer’s subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements as there are important factors that could cause actual results to differ materially from those in forward-looking statements, many of which are beyond Bitdeer’s control. Any forward-looking statements contained in this press release speak only as of the date hereof. Bitdeer specifically disclaims any obligation to update any forward-looking statement, whether due to new information, future events, or otherwise. Readers should not rely upon the information on this page as current or accurate after its publication date. For investor and media inquiries, please contact: Investor Relations Yujia Zhai Orange Group bitdeerir@orangegroupadvisors.com Public Relations Nishant Sharma BlocksBridge Consulting bitdeer@blocksbridge.comIn the end, the City Council said “Yes” to Mayor Eric Adams’ plan to permit tens of thousands of new homes across the five boroughs. Councilmembers voted 31-20 on Thursday to approve changes to a thicket of zoning restrictions that limit the size of new development in every neighborhood in the city. Adams dubbed the proposal “City of Yes” — as in “Yes In My Backyard” — and said the changes will allow for the construction of more than 80,000 new homes over the next 15 years. The revisions will affect every section of the city, from suburban Staten Island to the office canyons of Midtown. The plan will allow some property owners to add an extra apartment or small home on their lots, ease the conversion of empty offices into condos and permit developers to construct bigger buildings near subway stations. The plan could put a dent in New York City’s deep housing shortage. A survey conducted last year by the city’s housing agency found just 1.4% of the city’s roughly 2.3 million apartments were vacant and available to rent. For apartments priced under $2,400, the vacancy rate was less than 1%. Council Speaker Adrienne Adams said allowing more housing will help the city address a major shortage that contributes to historically high rents and sale prices, fuels record homelessness and drives many New Yorkers out of the city altogether. “We recognize the severity of the decades-in-the-making housing crisis, the impact it is having on working- and middle-class New Yorkers, and the urgency that is required of us,” Speaker Adams said Thursday. “This is a major step forward.” At the end of 2022, Mayor Adams announced a “ moonshot ” goal of creating 500,000 new homes over the next decade. His original “City of Yes” plan aimed to build up to 109,000 new homes over 15 years, and though the modified zoning plan came in with a smaller estimate of homes to be built, he hailed it as a signature policy achievement to move the city toward his more ambitious goal. “City of Yes will forever change the course of our city’s history,” he said in a statement following the vote. Nearly every New York lawmaker agrees the city is facing a housing crisis, but the final fate of the mayor’s rezoning plan appeared uncertain in the weeks leading up to the vote. Councilmembers representing lower-density sections of the city, like northeastern Queens and south Brooklyn, bristled at proposed changes that would allow slightly larger buildings near those neighborhoods' homes. Members in districts without access to the subway system decried a proposal to eliminate minimum parking requirements in new developments. And several members, including Speaker Adams, pointed out that merely changing zoning rules doesn’t automatically mean that most low- and middle-income New Yorkers will be able to afford the homes that get built. Last month, the Council negotiated with the administration to address those concerns. The final package approved on Thursday excludes several low-density areas from most new development, creates a tiered system for parking requirements and includes explicit affordability rules for larger projects near transit hubs and along commercial streets. Those changes reduced the number of potential homes that could be built, but made the package more politically feasible. Councilmembers also secured $5 billion in future city spending to build more affordable housing, improve streets and sewer systems, offer down payment assistance to first-time homebuyers and staff city housing agencies. Gov. Kathy Hochul pledged to chip in $1 billion of that total. “Our only shot at solving New York’s affordability crisis is by building more housing,” Hochul said in a statement following the vote. Other cities and states have revised their zoning codes in recent years to allow for more new development as a housing crisis racks much of the country. California has enacted laws allowing property owners to add an extra unit on their lots. Minneapolis, Minnesota; Austin, Texas and Columbus, Ohio have all eased restrictions on new development in an effort to bring more housing to market. The plan the City Council approved on Thursday could generate momentum for new state-level housing policies ahead of Albany’s upcoming legislative session, which starts in January. The National Low Income Housing Coalition estimates New York state needs more than 666,000 new units to meet the housing needs of roughly 1 million extremely low-income people, such as families of three earning less than around $40,000 annually. The zoning changes are an important step to “making sure every single neighborhood and every single corner of the city is responsible for being a part of the affordable housing solution,” said Barika Williams, executive director of the Association for Neighborhood and Housing Development.
A spokesperson for Nigeria’s Opposition Coalition lawmakers, Ikenga Ugochinyere has alleged that there is a plan by some Peoples DemocraticParty (PDP) governors and National Working Committee, NWC to keep the acting Chairman, Umar Damagun in office till 2027 to weaken the party. Ugochinyere made the allegations on Sunday evening during a live world press conference in Akokwa, Imo state. He said the unnamed governors and NWC members have planted 24 PDP state chairmen that will endorse President Tinubu before 2027 and keep Damagun in office till after the election. Ugochinyere, who represents Ideato federal constituency of Imo state in the House of Representatives described them as impostors and vowed that their plan won’t work as a structure is being put in place to ensure it doesn’t happen. He said, “Today our nation is facing different challenges both economic and political. But there’s something that’s missing in all these problems and that’s a vibrant and responsive and responsible opposition. “Today we have a political party People’s Democratic Party, PDP that’s supposed to lead the opposition, but what do you have we have political charlatans hijacking the heartbeat of the opposition party. And turning it into an errand platform for the ruling party. “Some of you called me yesterday when the meeting the Governors had in Jos and said it’s all over for the PDP. It’s very shameful that a party that was founded in 1998 by the great efforts of our founding fathers. The likes of Alex Ekwueme, Jerry Gana, Atiku Abubakar, Chief Olusegun Obasanjo and so many others came together and ended 16 yrs of military rule. “That political party is what these guys are playing Akara with. It’s what imposters called Umar Damagun and Samuel Anyanwu are now messing up with and forgetting the sacred expectations of the Nigerian people. A vibrant opposition. “Today I want to inform the whole of Nigeria that they have perfected a plan to ensure that the NEC meeting to choose a chairman from North Central where the position is originally supposed to come from us is not possible. “They want Umar Damagun ...to continue to parade as the National Chairman and stay in office till 2027 so they can foist on us a weakling that will be a presidential candidate. We have impostors among us, who have no honour and decency. They have decided to see the political party. The ruling party will be laughing at them now that they want to sabotage their own party. “First they said there was a Sallah holiday and they shifted it, since last year they kept on shifting the NEC meeting. Till now no NEC meeting they keep on giving different excuses. “The national leaders of PDP are frolicking with APC leaders, going to London having meetings with APC leadership. If the founding fathers of this party are still alive and are seeing what I’m seeing they will be crying. I will mention the names of these PDP governors frolicking with APC. They think that by being a weakling some of them will be allowed to control their state”. Ugochinyere also vowed that the alleged plot by the Minister of FCT, Nyesom Wike to seize Rivers State allocation, and impeach Governor Siminalayi Fubara will fail, adding that the governor will complete his tenure and be reelected. Ugochinyere said, “If you want to join APC join APC. But these clowns are running around just to destroy our party. What did we do to them? Should we bury our courts because of Wike? “You campaigned and Atiku defeated you, and you’ve vowed to destroy the party. Ikpeazu lost in the Senate, Ortom lost, Ugwuanyi lost but today they are so proud to destroy what our founding fathers did. “Today anybody that doesn’t agree with him he’s fighting him. There will be an end to this nonsense. Rivers state is an integral part of the party and Wike is aiming for the resources of rivers. We won’t let it happen. He has fought with everyone. “I advise President Bola Tinubu to be very careful when dealing with him. Because when things go wrong between you two, he will tell us your story. You supported someone to be governor, you produced all the commissioners, all House of Assembly members, and local government chairmen. “The governor didn’t have any input. He produced the party structure. Was there any issue? It’s only a man who’s at war with his inner self that can have a problem with Siminalayi Fubara”.Representative image KOLKATA: Technology that helps decipher grainy CCTV footage better, coupled with limping gait of a suspect, helped police arrest a man who raped a seven-month-old infant in north Kolkata last Friday, reports Dwaipayan Ghosh. Police Wednesday, arrested suspect Rajib Ghosh, 34, alias Gobra from a resort in Gopiballavpur in Jhargram, where he worked as a cleaner, and booked him under Pocso and BNS. The infant is under treatment and her condition is stable, police said. Police began scanning CCTV footage around Sovabazar and Burtolla, where the infant was raped. They said footage showed the accused cross the crime scene nine times. "We picked up two spots at both ends and went door to door to establish his identity. We matched the footage, statements of 110 locals, and worked on specific leads," police said. "We used 'Walking Gait' analysis and tried to compare the walking pattern of the accused with a man caught walking on CCTV on the day of the incident. After noticing the limp, the footage was shared with police stations across Bengal," the officer said. Stay updated with the latest news on Times of India . Don't miss daily games like Crossword , Sudoku , and Mini Crossword .
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Palantir and Shield AI forge strategic partnership for AI-driven autonomous flightAmber Heard is expecting her second child. A spokesperson for the Aquaman actor confirmed the news in a statement to People magazine. “It is still quite early in the pregnancy, so you will appreciate that we do not want to go into much detail at this stage,” the spokesperson said. “Suffice to say that Amber is delighted both for herself and Oonagh Paige.” Heard welcomed her three-year-old daughter , Oonagh, via surrogate back in April 2021. She first announced the news in an Instagram post, explaining that her decision to have a child dated back “four years.” “Four years ago, I decided I wanted to have a child. I wanted to do it on my own terms. I now appreciate how radical it is for us as women to think about one of the most fundamental parts of our destinies in this way,” the caption read. She noted wanting to normalize being a single mother and “not wanting a ring in order to have a crib.” The actor added that she would normally want this aspect of her life to remain private, but because of her job, it wasn’t possible. “I also get that the nature of my job compels me to take control of this,” her caption ended as she revealed her daughter’s name. Over the years, Heard has provided various updates about Oonagh on social media. Heard was previously married to actor Johnny Depp from 2015 to 2017. In 2022, the two of them ended up in a public legal battle when Depp sued her in March 2019 for $50 million for defamation over an op-ed she wrote for The Washington Post . Depp had not been directly named in the article, but his legal team had argued there was a “clear implication that Mr Depp is a domestic abuser.” After six weeks in court, the Pirates of the Caribbean actor won the case as the jury declared Heard had defamed Depp on all three counts. He was awarded $10 million in compensatory damages and $5 million in punitive damages. Heard was awarded $2 million in compensatory damages. In June 2022, Heard revealed to Today ’s Savannah Guthrie if she would ever tell her daughter about the trial. “I think no matter what, it will mean something,” Heard said. “I did the right thing. I did everything I could to stand up for myself and the truth.” At the time, she also revealed that she planned on being a mother full-time. “I get to be a mom, like, full-time, you know?” she said when asked about how she saw her future. “Where I’m not having to juggle calls with lawyers.” Heard went on to resort to a more private life as she sold her home in California and moved to Madrid, Spain .Palantir and Shield AI forge strategic partnership for AI-driven autonomous flight