TeraWulf (WULF) said Thursday that it has upsized and priced its private offering of $425 million of 2.75% convertible senior notes due in 2030.
Initial purchasers have a 13-day option to buy up to an additional $75 million in notes, the company said.
The company expects net proceeds of about $414.9 million, or about $488.1 million if the initial purchasers fully exercise their option to buy more notes. It plans to use around $51 million of these proceeds to cover costs related to capped call transactions, $115 million to buy back shares of its common stock, and the rest for general corporate purposes.
The offering is set to close on Friday, the company said.
Price: 6.27, Change: -0.13, Percent Change: -2.03
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