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TeraWulf: Initial purchasers of the convertible preferred notes issuance exercise their over-allotment option, raising a total of $1 billion.

2025-08-23 02:48:28

Golden Finance reported that the Nasdaq-listed digital asset mining company TeraWulf announced that the initial purchasers of its 2031 maturity, 1.00% convertible senior notes have fully exercised their option to purchase additional notes with a total principal amount of $150 million. The option was exercised on August 21, 2025, and the purchase was completed on August 22, 2025, meaning that the total amount raised from the convertible notes sold in this issuance reached $1 billion. It is reported that the net proceeds from this issuance, after deducting discounts, commissions, and estimated issuance costs, are approximately $975.2 million. TeraWulf used $100.6 million of the net proceeds to pay for the capped call options transaction costs, while the remaining net proceeds will be used for the expansion of the company's data centers and general corporate purposes.

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