TeraWulf Raises $900M in Stock Offering

By Chris Stiles • Wednesday, April 15 14:51 • Permanent Link

TeraWulf priced its upsized common stock offering at $19.00 a share, selling 47.4 million shares and raising about $900 million in gross proceeds, up from the $800 million target it had previously set.

The company also gave underwriters a 30-day option to buy up to 7.11 million additional shares at the same price, which would add another $135 million before underwriting discounts and commissions if fully exercised.

TeraWulf said it plans to use the proceeds to help fund construction of its planned data center campus in Hawesville, Kentucky. The proceeds are also earmarked to repay in full the amounts outstanding under its bridge credit facility, with the balance going toward future site acquisitions and general corporate purposes.

The offering is scheduled to close on April 16, 2026. Morgan Stanley is lead bookrunning manager, and Cantor Fitzgerald is serving as equity capital markets advisor. Following these announcements, the company's shares moved -8.96%, and are now trading at a price of $15.35. If you want to know more, read the company's complete 8-K report here.

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