B Class share redemption schedule and conditions
Company: IREN
The claim, verbatim
B Class shares will be redeemed by the company on the earliest of: voluntary director retirement, unremedied transfer in breach of Constitution, liquidation/winding up, or 12 years after Nasdaq listing (November 17, 2033)
Source (primary)
IREN 424B4 filed 2021-11-18 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “Each outstanding B Class share will be redeemed by us on the earlier of (i) the voluntary director retirement of the individual founder associated with the holder; (ii) an unremedied transfer of B Class shares in breach of our Company's Constitution; (iii) liquidation or winding up of the Company; or (iv) the date which is 12 years after the Ordinary shares are listed on Nasdaq”
How we checked this
Checked on September 22, 2026. The cited source supports part of this claim, but not all of it.
The prospectus states the four redemption conditions and the 12-year rule, but does not establish the exact date November 17, 2033, since the listing date is only given as expected on or about November 17, 2021.
Confirmed in the source:
- B Class shares are redeemed on the earlier of voluntary director retirement of the associated founder, an unremedied transfer in breach of the Constitution, liquidation/winding up, or 12 years after the Ordinary shares are listed on Nasdaq
We could not confirm this from the cited source:
- The 12-year redemption date is specifically November 17, 2033
That does not mean it is false — only that this source does not establish it, as of the date above. If we find a source that settles it, we will re-check and update this page.
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1878848/000114036121038558/ny20000275x14_424b4.htm) in full (785,405 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms IREN 424B4 filed 2021-11-18
Quote: “Each outstanding B Class share will be redeemed by us on the earlier of (i) the voluntary director retirement of the individual founder associated with the holder; (ii) an unremedied transfer of B Class shares in breach of our Company's Constitution; (iii) liquidation or winding up of the Company; or (iv) the date which is 12 years after the Ordinary shares are listed on Nasdaq”