TeraWulf: Initial Purchasers of Convertible Senior Notes Exercise Over-Allotment Option, Bringing Total Proceeds to $1 Billion

 TeraWulf, a Nasdaq-listed digital asset mining company, announced that the initial purchasers of its 2031 convertible senior notes with a maturity date and a coupon rate of 1.00% have fully exercised their options to purchase additional principal amount of $150 million notes. The options were exercised on August 21, 2025, and the purchase was completed on August 22, 2025, meaning that the total amount raised from the sale of convertible notes in this offering reached $1 billion. It is reported that the net proceeds from this offering, after deducting discounts, commissions, and estimated offering expenses, amounted to approximately $975.2 million. TeraWulf used $100.6 million of the net proceeds to pay for capped call option transactions, with the remaining net proceeds being used for expanding the company's data centers and general corporate purposes.