TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), which owns and operates vertically integrated, domestic bitcoin mining facilities powered by more than 91% zero-carbon energy, today announced that it has completed its previously announced underwritten public offering (the “Offering”) of 40,764,706 shares of its common stock, including 4,000,000 shares sold pursuant to the partial exercise of the underwriter’s option to purchase additional shares.
The shares were issued at a public offering price of $0.68 per share for total gross proceeds to the Company of $27,720,000, before deducting underwriter discounts and commissions and offering expenses. As previously disclosed, TeraWulf intends to use the net proceeds from the Offering for general corporate purposes, which may include working capital and/or capital expenditures.
The Offering was made by the Company pursuant to its shelf registration statement on Form S-3 (File No. 333-262226) previously filed with the Securities and Exchange Commission (the "SEC") and declared effective by the SEC on February 4, 2022. The final terms of the Offering were disclosed in a final prospectus supplement filed with the SEC and is available on the SEC’s website at www.sec.gov. Alternatively, copies of the prospectus supplement and accompanying prospectus relating to the Offering may be obtained by sending a request to: JonesTrading, Attention: Equity Capital Markets, 211 E. 43rd Street, New York, New York 10017; email: ecm@jonestrading.com.
About TeraWulf
TeraWulf (Nasdaq: WULF) owns and operates vertically integrated, environmentally clean Bitcoin mining facilities in the United States. Led by an experienced group of energy entrepreneurs, the Company is currently operating and/or completing construction of two mining facilities: Lake Mariner in New York, and Nautilus Cryptomine in Pennsylvania. TeraWulf generates domestically produced Bitcoin powered by nuclear, hydro, and solar energy with a goal of utilizing 100% zero-carbon energy. With a core focus on ESG that ties directly to its business success, TeraWulf expects to offer attractive mining economics at an industrial scale.
