TeraWulf slides after stock offering boosted to $900 mln

Terawulf

15/04/2026 11:19

** Data center infrastructure firm TeraWulf's shares WULF.O down 6% premarket at $19.70 after $900 mln follow-on priced

** Easton, Maryland-based WULF late Tues sold 47.4 mln shares at $19, a 9.3% discount to last sale

** After the bell Tues, co announced $800 mln stock offering and preliminary Q1 results below LSEG estimates

** Co intends to use net offering proceeds to partially fund construction of a data center at its site in Hawesville, Kentucky, including full repayment of its credit facility, for future acquisitions and for general corporate purposes

** Morgan Stanley lead bookrunner for offering. Cantor Fitzgerald serving as WULF's capital markets advisor

** Through Tues close, stock up 82% YTD. It closed at $2.29 a year ago

** 2 analysts rate the stock "strong buy", the other 12 rate "buy"; median PT $23.63 - LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))