TeraWulf expands the proposed issuance size of convertible notes to $850 million

according to GlobeNewswire, Bitcoin mining company TeraWulf (NASDAQ: WULF) announced today that it has increased the proposed issuance size of its convertible preferred notes from the previously announced $400 million to $850 million and has set the pricing.

The notes will mature in 2031, with a coupon rate of 1.00% and an initial conversion price of $12.43 per share, representing a 32.50% premium over the current stock price.