Terawulf Announced The Upsize And Pricing Of Its Offering Of $425M Aggregate Principal Amount Of 2.75% Convertible Senior Notes Due 2030
Portfolio Pulse from Benzinga Newsdesk
TeraWulf announced the upsizing and pricing of its $425 million offering of 2.75% Convertible Senior Notes due 2030, with a 32.50% conversion premium. The offering includes capped call transactions and a concurrent repurchase of $115 million of common stock. The notes will mature on February 1, 2030, and are convertible under specific conditions.
October 24, 2024 | 11:38 am
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TeraWulf's $425M Convertible Senior Notes offering, with a 32.5% conversion premium, may impact stock prices. The offering includes a $115M stock repurchase and capped call transactions.
The offering of convertible notes and the concurrent stock repurchase suggest a strategic financial move by TeraWulf, likely to influence investor sentiment positively. The conversion premium and capped call transactions indicate confidence in future stock performance, potentially driving the stock price up.
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