TeraWulf announces proposed $500M convertible note offering due 2032

TERAWULF INC.

Offers $500M aggregate principal of convertible senior notes due 2032 in private placement.
Initial purchasers granted option to buy up to $75M additional notes within 13 days.
Notes are zero-coupon, senior unsecured, convertible into cash and/or common stock at company's election.
Proceeds to fund construction of data center campus in Abernathy, Texas and for general corporate purposes.
Conversion rate and other terms to be set at pricing; notes mature May 1, 2032.

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