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SINGAPORE, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Bitdeer Technologies Group 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.com © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Smith's career-high 205 yards rushing carries San Diego past Morehead State 37-14
White House says at least 8 US telecom firms, dozens of nations impacted by China hacking campaignMicrosoft Co. (NASDAQ:MSFT) Stock Position Lowered by Osher Van de Voorde Investment Management
The prime minister’s approach to accountability has sent a clear message that "anything goes," Green Party deputy secretary general Mario Mallia said on Sunday following a damning report issued by the . The report found Tourism Minister Clayton Bartolo and Gozo Minister Clint Camilleri guilty of abusing their power and breaching ministerial ethics. The report revealed that Bartolo’s now-wife, Amanda Muscat, was employed in a public sector role despite lacking the necessary qualifications or experience. Mallia, speaking during a press conference in Valletta applauded the parliamentary committee for endorsing the report, calling it "a step in the right direction." However, he criticised , saying the prime minister’s stance stood "in total contrast" to the committee’s decision. "We have come to a point where the country is in agreement that there was abuse," Mallia said, questioning why no disciplinary action had been taken against the ministers involved. He also urged the government to recover the funds ad said Abela had abdicated his responsibility to enforce accountability and ethical conduct and had shown if you act unethically, you “will find protection”. Echoing Mallia’s criticism, Green Party chairperson Sandra Gauci accused the prime minister of prioritising loyalty to his inner circle over meritocracy and the national interest. “For a number of years, the prime minister has turned a blind eye to the abusive practices involved in putting people on the public payroll," she continued, "especially when it concerns people close to ministers and the party in power.” Gauci urged Abela to take "immediate, decisive, and concrete steps" against those implicated and to clarify his office’s approval of Muscat’s appointment. She said Abela’s "weakness" in addressing such abuses was contributing to a "culture of corruption and impunity," and resulting in young people's disillusionment with local politics and a future in the country." "As the saying goes, the fish rots from the head down,” she said. You can unsubscribe at any time by clicking the link in the footer of our emails. We use as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.NoneThanksgiving could provide the Lions an exciting chance for breakout day for a player with both Amon-Ra St. Brown and Kalif Raymond potentially out with injuries
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MOREHEAD, Ky. (AP) — Isaiah Smith ran for a career-high 205 yards on 31 carries and scored a touchdown and San Diego beat Morehead State 37-14 in a season-ending contest for both teams on Saturday. Grant Sergent threw for 184 yards and two touchdowns for San Diego (8-3, 6-2 Pioneer Football League) which ended the season with a four-game win streak and winners of six of seven. The Toreros finished in sole possession of second place in the PFL behind Drake (7-1), which clinched the league outright with a 49-10 win over Stetson on Saturday. Drake beat San Diego 30-28 on a walk-off field goal on Sept. 28 in Des Moines, Iowa. Bryce Patterson threw for 133 yards and a touchdown and James Louis ran for a touchdown for the Eagles (7-5, 5-3). ___ Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here . AP collegebasketball: https://apnews.com/hub/ap-top-25-college-basketball-poll and https://apnews.com/hub/college-basketballTaylor Swift, Travis Kelce's romance heats up with engagement rumour Taylor Swift and her beau Travis Kelce's romance intensifies with a new twist Taylor Swift and Travis Kelce's romance are talk of the town these days as the beautiful pair capture media's attention everywhere they appear together. The lovers have been in massive spotlight throughout the 2024 with their cute and heartwarming moments in one of Taylor's Eras Tour concerts. The Anti-Hero hitmaker also attended a few games of her beau NFL star along with her friends and family which attracted massive spotlight. Swift and Kelce's heated relationship has been making headlines ever since they have started making appearance in public as the couple's passion for each other going stronger each day since back in September 2023. The lovebirds are trying to make efforts and taking out some time for each other during their busy career schedule and personal responsibilities. The buzz surrounding the couple has been growing louder, fueled by whispers of an engagement. Speculations are rapidly spreading across social media, as fans are eagerly waiting for the official announcement of the big day. However, people are wondering when these two lovers will begin their "forever after." Despite all the gossips, they both have not utter a single word about their marriage plans. Taylor Swift and Travis currently keeping their lives very personal and private, away from all the limelight and focusing on career, as they seem to be taking things kind of slow and steady. Prince Harry and Meghan Markle’s neighbour makes shocking claims Margot Robbie finally opens up about controversial 'Wolf of Wall Street' bold scene Luz Cuevas sparks fans frenzy with 'shocking' revelations Meghan’s Christmas gift to Prince Harry turns into chaos after Archie’s mishap
NEW YORK , Dec. 4, 2024 /PRNewswire/ -- Innovative technology and media company zuMedia Inc. announced today the launch of the official fatSu website at www.fatSu.com . fatSu is the purple TikTok sensation who has danced her way into the hearts of millions throughout the world, spreading her message of joy through acceptance. Though fatSu creators Phyllis Jager and Barry Terach come from two entirely different worlds and backgrounds, they share the goal of actualizing a better way for people to understand and embrace one another, and they've joined forces to demonstrate these ideals via their newly-birthed social hero, fatSu. fatSu's whimsical antics bring joy and a sense of acceptance to all as she spreads the message that everyone should feel comfortable in their own bodies regardless of who they are or what they look like. Through their many principled initiatives, PJ and Barry are striving to battle a variety of social affronts that affect us all on a daily basis. For instance, their UNH8 cause provides a tangible, contractual way for people to commit themselves to stopping hate, and Be A Better Citizen provides opportunities for everyone to educate and equip themselves with tools that can improve both their confidence as well as the lives of those around them. fatSu is one of PJ's and Barry's star ambassadors determined to demonstrate compassion and acceptance throughout the cosmos. By supporting numerous zuMedia campaigns, her crusade is to lead the way and promote admirable virtues such as kindness and decency through her huge-hearted benevolence. On the fatSu website, users can learn about fatSu's origins and of her message, and purchase fatSu merchandise such as exquisite fatSu fragrances including her flagship scent "Iconic" , fatSu apparel and fatSu plushies. Visitors to the website can also download fatSu animated shorts and music. Additional fatSu videos can be found at the @HappenstanceManor page on TikTok. zuMedia Inc. is an innovative company that seeks to create groundbreaking technologies which can level the playing field for consumers, all with a sense of fun and the goal of allocating a substantial portion of its revenue to support humanitarian causes. In addition to its patented BACKSKIN advertising technology, zuMedia is the company behind the DMDb.com social and streaming platform. Soon to be released projects include PropertyDuds.com , the goal of which is to change the way consumers buy and sell their homes, and Feudr.com , a platform on which users can debate issues ranging from current events to the best way to clean a dirty pan. zuMedia can be found at www.zuinc.com . For more information, contact Phyllis Jager at pj@zuinc.com View original content to download multimedia: https://www.prnewswire.com/news-releases/zumedia-announces-fatsu-website-302323236.html SOURCE zuMedia Inc.Gamer Revolution: Arm Stock UnveiledBy A Staff Reporter,Kathmandu, Dec. 5: We must envision democracy as not merely a political framework but also a social system—one that upholds the dignity of every individual, inspires a sense of boundless potential, and fosters an environment of safety and security for all, Prime Minister KP Sharma Oli of Nepal said in his speech on ‘Comprehensive democracy: A journey towards Prosperous Nepal, Happy Nepali’ delivered at the Peking University of China in Beijing on Wednesday. “While taking forward the ideas of democracy, debates emerged regarding its class character, leading to the distinction between what is often termed ‘Old’ and ‘New’ democracy,” he said. According to him, in ‘old’ democracy, a privileged class—often referred to as the bourgeoisie—took the lead, while the toiling masses remained subordinate throughout the process of political transformation, while the ‘new’ democracy in contrast saw the working class take the forefront, collaborating with oppressed and exploited groups from various strata of society. He informed the students and academicians there that for much of its history, Nepalis endured autocracy, with no opportunity to participate in governance. “Nepal's journey to political transformation stands as a unique model in global history. Unlike many movements worldwide, where political struggles were predominantly led by parties representing a single class, Nepal's political revolution was a collaborative effort, uniting representatives from competing classes,” stated PM Oli. He said that Nepal’s political history is unique in the sense that both major political forces—Left leaning and the Right leaning— when they divide, monarchy usurps more power; yet, when united, they have consistently succeeded in subduing autocracy and advancing people’s freedom. “Guided by the philosophy of Marxism, and under the visionary leadership of the People's Leader Madan Bhandari, my party developed the principle of People's Multi-Party Democracy (PMD),” he said while talking about his political party – CPN (UML), and added that this doctrine represented a creative application of Marxist ideals, tailored to Nepal’s unique historical, and socio-political context. According to him, the PMD consists of synthesis of three key dimensions of the people's struggles in Nepal: patriotism, social change, and democracy. While advancing the idea of PMD, people's leader, Madan Bhandari said: "Principles are for life, not life for principles." “This vision of comprehensive democracy embraces the political, economic, social and cultural aspects to empower the individual and society. And all these aspects are mutually reinforcing,” PM Oli said. He also said that democracy cannot thrive in the echo-chambers built by algorithms of new technology. He said, “For us, prosperity means economic growth with equity—ensuring a level-playing field for all, equitable access to quality education and healthcare as fundamental rights and providing social safety nets and empowering marginalised communities.” Speaking on Nepal-China relations, PM Oli said that as trusted neighbours and steadfast partners, the two nations collaborate closely in various areas of mutual interest. “China’s miraculous economic development offers valuable lessons for Nepal as it embarks on its own developmental journey,” he said.
Mid-American Conference football goes all in on November weeknights for the TV viewers