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.

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