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.
Morgan Stanley is managing the bookrunning process, while Cantor Fitzgerald provides advisory services for the equity markets. The sale is being conducted under an existing S-3ASR registration statement filed with the SEC.
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