TeraWulf increases stock offering size to $900 million, stock price drops about 6% before market open

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ME News Report, April 15 (UTC+8), on April 14, Bitcoin mining company TeraWulf increased its common stock offering from $800 million to $900 million, issuing 47.4 million shares at $19 per share. The funds will be used to build a data center campus in Kentucky and to repay bridge loans. The transaction is expected to close on April 16. Following this news, the company’s stock price dropped about 6% in pre-market trading to $19.70. Additionally, the company announced preliminary earnings guidance: first-quarter revenue is expected to be between $30 million and $35 million, with an adjusted EBITDA of up to $3 million; as of March 31, the company held $3.1 billion in cash and equivalents, with total debt of $5.8 billion. (Source: MLion)

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