TeraWulf announces $400M convertible senior notes offering due 2031 to fund expansion

TERAWULF INC.

$400M aggregate principal amount of convertible senior notes due 2031; option for additional $60M.
Net proceeds to fund capped call transactions and data center expansion; stockholder approval required.
Notes will be senior unsecured, interest payable semi-annually, maturity September 1, 2031.
Capped call transactions with option counterparties expected to reduce potential dilution upon conversion.

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