Having planned to do a direct Nasdaq listing with little fanfare, Iris Energy is understood to have told investors it will undertake a full-blown IPO.
The float is set for the fourth quarter and the company is expected to attract a valuation north of $1.5 billion.
It is also putting the finishing touches on a convertible notes raising, which is expected to be reduced in light of the expanded float.
Elsewhere, the ACCC is set to propose new merger laws on Friday and lawyers are already preparing to fight them on it. We also take a look at the Silk Laser and Dicker Data blocks up for grabs.
And elsewhere, epilepsy diagnosis and management company Seer has raised $34 million from the likes of Cochlear and SG Hiscock, and Corporate Travel Management MD Jamie Pherous has sold a $39 million stake in the company via stockbroker Morgans.
Happy reading,
Anthony Macdonald and Yolanda Redrup Street Talk Editors
If the competition watchdog was to be given a report card, it would read A A A C. But, it’s ready to do the extra credit to improve its record on mergers.
