Tuesday, February 11, 2025

Raise $350M in Convertible Notes: TeraWulf’s Strategic Move to Boost Growth and Operations

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Originally published on: October 24, 2024

TeraWulf, a leading digital infrastructure company specializing in green energy solutions for Bitcoin mining, has announced a significant private offering of $350 million in convertible senior notes due in 2030.

This strategic move, revealed in an announcement on October 23, aims to raise additional capital from institutional investors to strengthen TeraWulf’s financial position, enhance shareholder value, and support its corporate goals.

The convertible notes, set to be issued under Rule 144A of the Securities Act of 1933, will provide investors with the opportunity to convert the debt into TeraWulf’s common stock under specific conditions.

With a maturity date of February 1, 2030, and semi-annual interest payments beginning in May 2025, these notes offer a unique investment opportunity. Initial purchasers will also have the option to acquire an additional $75 million of notes within 13 days of issuance.

Proceeds from the offering will be utilized for various purposes, including capped call transactions to reduce stock dilution, share repurchases, and general corporate activities.

This announcement follows TeraWulf’s recent appointment of John Larkin as Director of Investor Relations, underscoring the company’s commitment to growth and operational expansion.

Issuing convertible senior notes allows companies like TeraWulf to raise capital without immediate share dilution, providing flexibility and strategic financial options. The precise interest rate and conversion terms are yet to be finalized, but this offering is expected to play a crucial role in supporting TeraWulf’s growth trajectory.

This private offering is exclusively available to qualified institutional buyers and not open to the public, reflecting TeraWulf’s focus on strategic partnerships and targeted capital investments.

As TeraWulf continues to expand its operations in the competitive digital infrastructure sector, this funding round will be instrumental in fueling the company’s growth initiatives.

Operating its Lake Mariner facility in New York powered by green energy sources like nuclear and hydroelectric power, TeraWulf remains committed to its environmental, social, and governance (ESG) principles.

With the recent launch of the “WULF Den” mining facility and plans to sell its stake in the Nautilus Cryptomine for strategic investment in Bitcoin miners and AI development, TeraWulf is solidifying its position as an innovative leader in the cryptocurrency mining space.

Stay tuned for more updates on TeraWulf’s growth trajectory and strategic initiatives as the company continues to drive innovation and sustainability in the digital infrastructure sector.

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