TeraWulf announces $800 million common stock offering

TeraWulf Inc. (NASDAQ: WULF) announced it intends to offer $800 million in common stock shares. The company plans to grant underwriters a 30-day option to purchase up to an additional $120 million of shares at the public offering price, less underwriting discounts and commissions.

The data center operator said it will use net proceeds to finance construction of a data center at its Hawesville, Kentucky site, including full repayment of amounts outstanding under its bridge credit facility. Funds will also support future site acquisitions and general corporate purposes.

Morgan Stanley serves as lead bookrunning manager for the offering, while Cantor Fitzgerald acts as the company's equity capital markets advisor. The offering will be conducted through a prospectus supplement under TeraWulf's effective registration statement on Form S-3ASR filed with the Securities and Exchange Commission.

TeraWulf operates environmentally sustainable, industrial-scale data center infrastructure in the United States for high-performance computing hosting and bitcoin mining. The company focuses on delivering scalable, low-carbon compute capacity for artificial intelligence and high-performance computing customers.

The announcement was made in a press release statement. TeraWulf's common stock trades on the Nasdaq Stock Market under the symbol "WULF."

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