TeraWulf closes $500M 2.75% convertible notes offering, repurchases $115M of stock

TERAWULF INC.

Net proceeds ~$487.1M; $60M for capped calls, $115M for share repurchase (17.97M shares at $6.40), remainder for general corporate including HPC infrastructure expansion.
Initial conversion price ~$8.48 per share (117.9245 shares per $1,000 note); cap price $12.80 (100% premium over reference price).
Capped call transactions reduce dilution until stock price exceeds $12.80; combined with buyback, net shares not exceed repurchased until price above $18.41.
Use of proceeds includes strategic acquisitions and data center expansion for high-performance computing.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.