Bitcoin mining company TeraWulf completes approximately US$1.035 billion in rights issue

Nasdaq-listed bitcoin mining company TeraWulf announced that it has completed the previously announced public rights issue of 54,510,000 common shares at an issue price of US$19 per share, raising a total of US$1,035,690,000. Morgan Stanley served as the lead underwriter of the offering, and Bank of America Securities, Citigroup, TDCowen and Wells Fargo Securities served as co-underwriters. Citizens Capital Markets and Banque Santander served as deputy underwriters, and Cantor Fitzgerald served as equity capital markets consultant. TeraWulf plans to use the net proceeds from this offering to pay part of the construction costs of its planned data center park in Horsville, Kentucky, including full repayment of outstanding amounts under its bridging credit arrangement, as well as for future venue acquisitions and general corporate purposes.