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Bitcoin mining company Terawulf plans to raise $350 million through private offering of convertible notes

Bitcoin mining company Terawulf plans to raise $350 million through private offering of convertible notes

CointimeCointime2024/10/24 04:23
By:Cointime

Bitcoin mining company Terawulf proposed to raise $350 million through private issuance of convertible notes, and will also grant the initial purchasers of the notes the option to add $75 million within 13 days of their issuance. The company has not yet finalized the pricing and interest rates of the notes, but stated that they will mature in 2030. Terawulf plans to use the proceeds from this issuance for general corporate purposes and to repurchase its outstanding common stock by December 2025, with a maximum amount of $200 million. In another announcement on Wednesday, Terawulf stated that it will prioritize its stock buyback plan after "strict capital expenditures aimed at supporting organic growth in HPC/AI and evaluating potential strategic opportunities for website acquisitions."

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