Summary by Futu AI
Iris Energy Limited, also known as IREN, has filed a prospectus with the SEC under Rule 424(b)(3) for the offer and resale of up to 2,069,122 Ordinary Shares. These shares are being offered by certain selling shareholders, referred to as the 'Selling Holders,' and include 1,954,049 Ordinary shares, termed 'Loan Funded Shares,' which were issued in connection with loan agreements between IREN and the Selling Holders. IREN itself is not selling any securities under this prospectus and will not receive proceeds from the sale of Ordinary shares by the Selling Holders. However, IREN may receive proceeds from the sale of Loan Funded Shares by the LFS Selling Holders in connection with the repayment of outstanding borrowings under the Loan Agreements. The Ordinary shares are listed on the Nasdaq Global Select Market under the symbol 'IREN.' The prospectus also outlines the potential tax implications for both U.S. and Australian shareholders and details the methods by which the Selling Holders may sell their shares. The date of the prospectus is March 5, 2024.