Terawulf Inc. has announced the full exercise of the greenshoe option in its $1.0 billion convertible senior notes offering. The initial purchasers of the 1.00% convertible senior notes due 2031 have fully exercised their option to purchase an additional $150 million aggregate principal amount of notes. This exercise took place on August 21, 2025, and the purchase was completed on August 22, 2025. With the inclusion of the greenshoe, the total principal amount of convertible notes sold in the offering was $1.0 billion.
The offering of convertible notes was made in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933.
In connection with the additional notes, the company entered into additional capped call transactions with a cap price of $18.76, representing a premium of 100% over the last reported sale price of Terawulf’s common stock.
The net proceeds from the offering, inclusive of the full greenshoe exercise, totaled approximately $975.2 million after deducting discounts, commissions, and estimated offering expenses. The company used $100.6 million of the net proceeds to fund the cost of the capped call transactions, with the remaining net proceeds allocated to the company’s data center expansion and general corporate purposes. Following these announcements, the company's shares moved -0.33%, and are now trading at a price of $9.16. For the full picture, make sure to review TERAWULF INC.'s 8-K report.
