TeraWulf subsidiary proposes $3.2B senior secured notes offering due 2030

TERAWULF INC.

WULF Compute LLC to offer $3.2B senior secured notes due 2030 to qualified institutional buyers.
Net proceeds to finance data center expansion at Lake Mariner campus in Barker, NY.
Notes guaranteed by subsidiaries; secured by assets, equity, lockbox, and Google LLC warrant pledge.
TeraWulf to provide completion guarantees for the data center expansion.
Offering subject to market conditions; Morgan Stanley sole bookrunner.

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