NASDAQ: WULF TERAWULF INC. 8-K

TeraWulf prices $900M stock offering at $19/share, upsized from $800M

Filed April 15, 2026 · Period ending April 14, 2026 · ~1 min read

Key Changes

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TeraWulf priced 47.4 million common shares at $19.00 per share, raising $900 million in gross proceeds. The offering was upsized from the originally announced $800 million and is expected to close April 16, 2026.

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Underwriters received a 30-day option to purchase an additional 7.1 million shares at the offering price. If fully exercised, this greenshoe would add approximately $135 million in proceeds and increase total dilution to 54.5 million shares.

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Summary

TeraWulf completed pricing of a substantial equity raise, selling 47.4 million common shares at $19.00 each for gross proceeds of $900 million. The offering was upsized by $100 million from its initial announcement, suggesting strong investor demand. The deal includes a standard greenshoe option allowing underwriters to purchase up to 7.1 million additional shares within 30 days.

For existing shareholders, this represents significant dilution—approximately 47.4 million new shares entering the market, with potential for another 7.1 million if the greenshoe is exercised. The $900 million in capital will presumably fund TeraWulf's bitcoin mining operations and infrastructure expansion, though specific use of proceeds wasn't detailed in this filing.

Investors should watch for the closing announcement on April 16 and any subsequent disclosure about how management plans to deploy this capital. The greenshoe exercise decision within 30 days will also signal underwriter confidence in post-offering price stability.