TeraWulf Inc. 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 to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933.
The offering is expected to close on August 20, 2025, subject to customary closing conditions.
Convertible Notes Offering
$850 million offering of 1.00% Convertible Senior Notes with a 32.50% conversion premium.
Use of Proceeds
Anticipated net proceeds of approximately $828.7 million to finance data center expansion and corporate purposes.
Convertible Notes Details
Senior unsecured obligations with a 1.00% interest rate, convertible into cash or common stock at the Company's election.
- The Convertible Notes will support TeraWulf's data center expansion and general corporate objectives.
- The financing structure allows for flexibility in conversion options, combining cash and shares of common stock.
- The initial conversion price represents a premium to the closing price of the common stock on August 18, 2025.
TeraWulf's announcement of the Convertible Notes offering reflects strategic financial planning and commitment to growth in the digital infrastructure sector.