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Clifford Chance advises Iris Energy on US$300 million at-the-market offering

9 October 2023

Clifford Chance advises Iris Energy on US$300 million at-the-market offering

Global law firm Clifford Chance has advised Iris Energy Limited (NASDAQ: IREN) on the Australian law aspects of its SEC-registered at-the-market offering of ordinary shares, with an aggregate amount of up to US$300 million.

Iris Energy builds, owns, and operates next-generation data centres powered by 100% renewable energy, optimised for power-dense compute (including Bitcoin mining and beyond). The company targets sites with low-cost, under-utilised renewable energy, and supports local communities.

The Clifford Chance team, led by Sydney partner Reuben van Werkum, and supported by counsel John Karantonis and associate Joshua Yan, provided comprehensive advice on the Australian law aspects of the transaction.

Reuben said, “We highly value our longstanding relationship with Iris Energy and were delighted to continue to support the business on this significant offering. Iris Energy is a leader in driving this shift to environmentally-friendly and socially-responsible operations. Clifford Chance is closely aligned to the energy transition thematic, and we have significant expertise globally assisting businesses to acquire or develop sustainable assets across major infrastructure and energy asset classes. This transaction also underscores our track record of providing top-tier advice to clients like Iris Energy who are undertaking significant fundraising transactions with cross-border legal considerations.”

Clifford Chance is a leader in advising on transactions in the sustainable infrastructure and renewable energy sector in Asia Pacific, most recently advising on 1,022MW Hai Long offshore wind farm project in Taiwan. The Clifford Chance team in Australia brings substantial industry specific knowledge and expertise in renewable projects, including recently advising on the 5GW Elanora offshore wind farm project in Australia, which is set to generate 40% of the Victoria state’s current energy needs once fully operational.