TeraWulf announces $350M convertible senior notes offering

TeraWulf (WULF) announced that it intends to offer, subject to market conditions and other factors, $350M aggregate principal amount of convertible senior notes due 2030 in a private offering to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended. The company intends to use the net proceeds from the offering to pay the cost of the capped call transactions, to repurchase shares of the company’s common stock, and for general corporate purposes.