← Terawulf · FinancingEdit
Public offering of 54,510,000 common shares at $19.00 per share (including 7,110,000 option shares)
Apr 16, 2026 · ClosedTerms of issuance
Instrument
Equity offering
Principal
Net proceeds
$1.00B
Issue date
Apr 16, 2026
Maturity
Seniority
Conversion ratio
n/a
Settlement
n/a
Economic analysis
Effective annual cost
n/acalculated: coupon + capped-call cost amortized over the note's life — needs coupon, maturity, and (if hedged) capped-call cost
Interest savings vs. plain debt
n/anot shown — would require an assumed comparable straight-debt rate, which we do not fabricate
Implied option value / volatility
n/anot shown — would require an assumed volatility input, which we do not fabricate
Breakeven
n/anot shown — would require assumed reinvestment/discount-rate assumptions, which we do not fabricate
Context
Shares outstanding (as of issue date)
424,068,125
Stock price / market cap (as of issue date)
n/ano price on or before the issue date
Use of proceeds
Fund a portion of construction costs for the planned Hawesville, KY data center campus, including repayment in full of amounts outstanding under the bridge credit facility, as well as future site acquisitions and general corporate purposes
Other financing outstanding (excl. this instrument)
2.75% Convertible Senior Notes due 2030 ($500.0M), 1.00% Convertible Senior Notes due 2031 ($1.00B), 7.750% Senior Secured Notes due 2030 (WULF Compute LLC) ($3.20B), 0.00% Convertible Senior Notes due 2032 ($1.02B), 7.250% Senior Secured Notes due 2030 — Abernathy JV (Flash Compute LLC) ($1.30B), 364-day $500 million delayed-draw senior secured bridge facility ($500.0M), Revolving Credit Facility ($250.0M), Amended senior secured revolving credit facility ($400.0M)
— of which existing debt
$8.18B
Existing cash
n/anot tracked in the system yet
Anti-dilution adjustment terms
n/a
Related acquisition
none
Related deal
Related site
Sources
ClosedTeraWulf closes 54.5 million share common stock offering at $19.00
Apr 16, 2026