TERAWULF INC. (WULF): debt financing — TeraWulf exercises greenshoe, ups convertible notes offering to $1.0B; net proceeds $975.2M

TERAWULF INC.

Initial purchasers fully exercised option for $150M additional notes; total principal now $1.0B.
Capped call transactions with $18.76 cap price added; cost $15.1M; total capped call cost $100.6M.
Net proceeds of $975.2M after discounts and expenses; used for data center expansion and general corporate purposes.
Notes carry 1.00% conversion rate, due 2031; initial conversion price ~$12.43 per share.
Capped call transactions expected to reduce dilution upon conversion; $18.76 cap premium 100% over August 18 close.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

TERAWULF INC. incurred convertible notes of $150 million aggregate principal amount with initial purchasers at 1.00% maturing 2031.

Instrument: convertible notes
Principal: $150 million aggregate principal amount
Counterparty: initial purchasers
Rate: 1.00%
Maturity: 2031
Event: incurrence

Exact text from the filing

the initial purchasers of 1.00% Convertible Senior Notes due 2031 (the “Convertible Notes”) have fully exercised their option to purchase an additional $150 million aggregate principal amount of notes. The option was exercised on August 21, 2025, and the purchase was completed on August 22, 2025.

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TERAWULF INC. filing history →

Source: SEC EDGAR

accession 0001104659-25-081886

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