TeraWulf to raise $800 million through stock sale for Kentucky infrastructure and debt settlement
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Key Takeaways
- TeraWulf is launching an $800 million stock offering with a $120 million overallotment provision.
- Capital will be directed toward the Hawesville, Kentucky data center project.
- The company will use proceeds to fully retire its existing bridge credit facility.
- Morgan Stanley and Cantor Fitzgerald are overseeing the transaction.
TeraWulf (NASDAQ: WULF) Inc. disclosed plans for an $800 million equity raise. The company also provided underwriters with a 30-day window to buy up to $120 million more in shares at the public price, adjusted for fees and commissions.
The net capital generated will support the ongoing construction of a data center facility in Hawesville, Kentucky. This site represents a key component of the firm's infrastructure expansion and development strategy.
A primary objective of the offering is the total liquidation of debt held under a bridge credit facility.
Beyond debt and construction, TeraWulf may use the funds for acquiring new sites or general corporate operations.
