TeraWulf Inc. Announces Full Exercise of Greenshoe Option in $1.0 Billion Convertible Senior Notes Offering
TeraWulf (Nasdaq: WULF), a zero-carbon digital infrastructure company, has successfully completed its convertible notes offering with the full exercise of the greenshoe option. Initial purchasers exercised their option to buy an additional $150 million of 1.00% Convertible Senior Notes due 2031, bringing the total offering to $1.0 billion.
The private placement, made to qualified institutional buyers under Rule 144A, generated net proceeds of $975.2 million after expenses. The company implemented additional capped call transactions with a cap price of $18.76, representing a 100% premium over the last reported stock price. TeraWulf allocated $100.6 million to fund the capped call transactions, with remaining proceeds designated for data center expansion and general corporate purposes.
TeraWulf (Nasdaq: WULF), societ脿 di infrastrutture digitali a zero emissioni, ha completato con successo l'offerta di note convertibili con l'esercizio integrale dell'opzione greenshoe. Gli acquirenti iniziali hanno esercitato l'opzione per acquistare ulteriori $150 milioni di Note Senior Convertibili 1,00% con scadenza 2031, portando il totale dell'offerta a $1,0 miliardo.
Il collocamento privato, effettuato a investitori istituzionali qualificati ai sensi della Rule 144A, ha generato proventi netti di $975,2 milioni al netto delle spese. La societ脿 ha effettuato ulteriori operazioni capped call con un prezzo di cap di $18,76, corrispondente a un premio del 100% rispetto all'ultimo prezzo di chiusura riportato. TeraWulf ha destinato $100,6 milioni al finanziamento delle capped call, mentre il resto dei proventi sar脿 utilizzato per l'espansione dei data center e per scopi aziendali generali.
TeraWulf (Nasdaq: WULF), una compa帽铆a de infraestructura digital con emisiones cero, complet贸 con 茅xito su oferta de notas convertibles con el ejercicio total de la opci贸n greenshoe. Los compradores iniciales ejercieron su opci贸n para adquirir otros $150 millones en Notas Senior Convertibles 1.00% con vencimiento en 2031, elevando el total de la oferta a $1.0 mil millones.
La colocaci贸n privada, realizada a compradores institucionales calificados bajo la Regla 144A, gener贸 ingresos netos de $975.2 millones despu茅s de gastos. La compa帽铆a implement贸 operaciones adicionales de capped call con un precio tope de $18.76, que representa una prima del 100% sobre el 煤ltimo precio de la acci贸n informado. TeraWulf asign贸 $100.6 millones para financiar las capped calls, destinando el resto de los ingresos a la expansi贸n de centros de datos y a fines corporativos generales.
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Rule 144A鞐� 霐半澕 鞝侁博 旮瓣磤韴瀽鞛愳棎瓴� 牍勱车臧滊 氚办爼霅� 鞚措矆 靷電� 牍勳毄 瓿奠牅 頉� 靾滌垬鞚� $975.2氚彪鞚� 彀届稖頄堨姷雼堧嫟. 須岇偓電� 於旉皜搿� 旌� 臧�瓴� $18.76鞚� 旌‰摐 旖� 瓯半灅毳� 鞁ろ枆頄堨溂氅�, 鞚措姅 斓滉芳 氤搓碃霅� 欤缄皜 雽�牍� 100% 頂勲Μ氙胳梽鞐� 頃措嫻頃╇媹雼�. TeraWulf電� 旌‰摐 旖� 鞛愱笀鞙茧 $100.6氚彪鞚� 氚办爼頄堨溂氅�, 雮橂ǜ歆� 鞛愱笀鞚� 雿办澊韯办劶韯� 頇曥灔 氚� 鞚茧皹 氩曥澑 氇╈爜鞐� 靷毄頃� 鞓堨爼鞛呺媹雼�.
TeraWulf (Nasdaq: WULF), une soci茅t茅 d'infrastructures num茅riques z茅ro carbone, a finalis茅 avec succ猫s son 茅mission d'obligations convertibles avec l'exercice complet de l'option greenshoe. Les acheteurs initiaux ont exerc茅 leur option d'achat de 150 M$ suppl茅mentaires d'Obligations Senior Convertibles 1,00% arrivant 脿 茅ch茅ance en 2031, portant le montant total de l'offre 脿 1,0 milliard $.
Le placement priv茅, r茅alis茅 aupr猫s d'investisseurs institutionnels qualifi茅s en vertu de la Rule 144A, a g茅n茅r茅 des produits nets de 975,2 M$ apr猫s frais. La soci茅t茅 a mis en place des transactions suppl茅mentaires de capped call avec un prix plafond de 18,76 $, repr茅sentant une prime de 100% par rapport au dernier cours publi茅. TeraWulf a allou茅 100,6 M$ au financement des capped calls; le reste des produits sera affect茅 脿 l'expansion des centres de donn茅es et 脿 des usages g茅n茅raux de l'entreprise.
TeraWulf (Nasdaq: WULF), ein CO2-neutrales Unternehmen f眉r digitale Infrastruktur, hat seine Wandelanleiheemission mit vollst盲ndiger Aus眉bung der Greenshoe-Option erfolgreich abgeschlossen. Die urspr眉nglichen Zeichner 眉bten ihre Option zum Kauf zus盲tzlicher $150 Millionen 1,00% Wandelvorrangschuldtitel mit F盲lligkeit 2031 aus, wodurch der Gesamtumfang der Emission $1,0 Milliarde 产别迟谤盲驳迟.
Die Privatplatzierung, vorgenommen bei qualifizierten institutionellen K盲ufern nach Rule 144A, erbrachte nach Kosten Nettoerl枚se in H枚he von $975,2 Millionen. Das Unternehmen f眉hrte zus盲tzliche Capped-Call-Transaktionen mit einem Cap-Preis von $18,76 durch, was einem Aufschlag von 100% gegen眉ber dem zuletzt berichteten Aktienkurs entspricht. TeraWulf hat $100,6 Millionen zur Finanzierung der Capped Calls bereitgestellt; die verbleibenden Erl枚se sind f眉r den Ausbau der Rechenzentren und allgemeine Unternehmenszwecke vorgesehen.
- Successfully raised $1.0 billion through convertible notes offering
- Strong investor demand demonstrated by full exercise of greenshoe option
- Strategic implementation of capped call transactions to minimize potential dilution
- Significant capital secured for data center expansion
- Additional $1.0 billion in debt obligations through convertible notes
- Potential future dilution for shareholders if notes are converted
- Increased interest expense from 1.00% annual coupon payments
Insights
TeraWulf successfully raised $1B through convertible notes with favorable terms, significantly strengthening its financial position for expansion.
TeraWulf has completed a major capital raise with its $1.0 billion convertible senior notes offering, which includes the full exercise of the $150 million greenshoe option by initial purchasers. The 1.00% Convertible Senior Notes due 2031 were sold to qualified institutional buyers under Rule 144A, indicating strong institutional interest in the company's future.
The transaction's structure reveals strategic financial engineering. The 1.00% interest rate is exceptionally low in today's environment, minimizing the company's debt service burden. TeraWulf also implemented capped call transactions with a $18.76 cap price鈥攔epresenting a 100% premium over the current stock price鈥攚hich effectively raises the conversion premium and reduces potential future dilution for existing shareholders.
After deducting costs, TeraWulf netted $975.2 million, with $100.6 million allocated to capped call transactions. The remaining proceeds will fund data center expansion and general corporate purposes. This capital raise substantially strengthens TeraWulf's balance sheet, providing runway to execute its growth strategy in both bitcoin mining and high-performance computing infrastructure.
What's particularly noteworthy is the successful completion of such a large offering relative to the company's size, demonstrating institutional confidence in TeraWulf's business model of developing predominantly zero-carbon digital infrastructure. The successful capital raise positions TeraWulf to accelerate its expansion plans and potentially capture market share in the evolving digital asset infrastructure space.
EASTON, Md., Aug. 22, 2025 (GLOBE NEWSWIRE) -- TeraWulf Inc. (Nasdaq: WULF) (鈥淭eraWulf鈥� or the 鈥淐ompany鈥�), a leading owner and operator of vertically integrated, predominantly zero-carbon digital infrastructure, today announced that the initial purchasers of
The offering of Convertible Notes was made in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the 鈥淪ecurities Act鈥�).聽
In connection with the additional notes, the Company entered into additional capped call transactions with a cap price of
Net proceeds from the offering, inclusive of the full greenshoe exercise, totaled approximately
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the 鈥渟afe harbor鈥� provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. In addition, forward-looking statements are typically identified by words such as 鈥減lan,鈥� 鈥渂elieve,鈥� 鈥済oal,鈥� 鈥渢arget,鈥� 鈥渁im,鈥� 鈥渆xpect,鈥� 鈥渁nticipate,鈥� 鈥渋ntend,鈥� 鈥渙utlook,鈥� 鈥渆stimate,鈥� 鈥渇orecast,鈥� 鈥減roject,鈥� 鈥渟eek,鈥� 鈥渃ontinue,鈥� 鈥渃ould,鈥� 鈥渕ay,鈥� 鈥渕ight,鈥� 鈥減ossible,鈥� 鈥減otential,鈥� 鈥渟trategy,鈥� 鈥渙pportunity,鈥� 鈥減redict,鈥� 鈥渟hould,鈥� 鈥渨ould鈥� and other similar words and expressions, although the absence of these words or expressions does not mean that a statement is not forward-looking. Forward-looking statements are based on the current expectations and beliefs of TeraWulf鈥檚 management and are inherently subject to a number of factors, risks, uncertainties and assumptions and their potential effects. There can be no assurance that future developments will be those that have been anticipated. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, risks, uncertainties and assumptions, including, among others: (1) the ability to mine bitcoin profitably; (2) TeraWulf鈥檚 ability to attract additional customers to lease its HPC data centers; (3) TeraWulf鈥檚 ability to perform under its existing data center lease agreements; (4) changes in applicable laws, regulations and/or permits affecting TeraWulf鈥檚 operations or the industries in which it operates; (5) the ability to implement certain business objectives, including its bitcoin mining and HPC data center development, and to timely and cost-effectively execute related projects; (6) failure to obtain adequate financing on a timely basis and/or on acceptable terms with regard to expansion or existing operations途 (7) adverse geopolitical or economic conditions, including a high inflationary environment, the implementation of new tariffs and more restrictive trade regulations; (8) the potential of cybercrime, money-laundering, malware infections and phishing and/or loss and interference as a result of equipment malfunction or break-down, physical disaster, data security breach, computer malfunction or sabotage (and the costs associated with any of the foregoing)途 (9) the availability and cost of power as well as electrical infrastructure equipment necessary to maintain and grow the business and operations of TeraWulf; and (10) other risks and uncertainties detailed from time to time in the Company鈥檚 filings with the Securities and Exchange Commission (鈥淪EC鈥�). Potential investors, stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. TeraWulf does not assume any obligation to publicly update any forward-looking statement after it was made, whether as a result of new information, future events or otherwise, except as required by law or regulation. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in the Company鈥檚 filings with the SEC, which are available at www.sec.gov.
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