Terawulf Inc. (NASDAQ: WULF) 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. The total principal amount of convertible notes sold in the offering, including the greenshoe, was $1.0 billion.
The net proceeds from the offering, including the full greenshoe exercise, totaled approximately $975.2 million after deducting discounts, commissions, and estimated offering expenses. Out of this amount, the company utilized $100.6 million 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.
In connection with the additional notes, Terawulf Inc. 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 the company’s common stock. The market has reacted to these announcements by moving the company's shares -0.33% to a price of $9.16. Check out the company's full 8-K submission here.
