TeraWulf Prices Upsized $850 Mln Offering Of 1.00% Convertible Senior Notes Due 2031

(RTTNews) - TeraWulf Inc. (WULF) announced the upsize and pricing of its offering of $850 million aggregate principal amount of 1.00% Convertible Senior Notes due 2031. The Convertible Notes will be sold in a private offering.

TeraWulf has granted the initial purchasers of the Convertible Notes a 13-day option to purchase up to an additional$150 million aggregate principal amount of the Convertible Notes.The offering is expected to close on August 20, 2025.

The company anticipates that the aggregate net proceeds from the offering will be approximately $828.7 million (or approximately $975.2 million if the initial purchasers exercise their option to purchase additional notes in full), after deducting the initial purchasers discounts and commissions and estimated offering expenses payable by TeraWulf.

The company intends to use approximately $85.5 million of the net proceeds from the offering to pay the cost of the capped call transactions with the remaining net proceeds to be used to finance a portion of the Company'ss data center expansion and for general corporate purposes.

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