TeraWulf closes $1.025B 0% convertible notes offering; net proceeds ~$999.7M for data center buildout

TERAWULF INC.

Completed $1.025B 0.00% Convertible Senior Notes due 2032; net proceeds ~$999.7M after discounts and expenses.
Initial conversion rate 50.1567 shares per $1,000 principal (~$19.94/share); convertible only upon certain events before Feb 2032.
Proceeds earmarked for construction of Abernathy, Texas data center campus and general corporate purposes.
Included full exercise of $125M option to purchase additional notes by initial purchasers.

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