TeraWulf slides on planned $800 mln stock sale, preliminary qtrly results

Terawulf

14/04/2026 21:54

** Data center infrastructure firm TeraWulf's shares WULF.O down 7.2% in extended trading to $19.45 after planned equity raise news, preliminary Q1 results

** Easton, Maryland-based WULF announces $800 mln stock offering

** It 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, while Cantor Fitzgerald serving as WULF's capital markets advisor

** WULF also says expects Q1 rev of $30-$35 mln and adj EBITDA of $0-$3 mln and $3.1 bln of cash as of Mar 31; Wall Street analysts had modeled Q1 rev of $40 mln and adj EBITDA of $8.8 mln, according to LSEG data

** With ~424.1 mln shares outstanding, co has $8.9 bln market cap

** Stock closed up 7.7% at $20.95 on Tues, extending YTD gain to 82%

** All 14 analysts covering the stock are bullish, including 2 "strong buy" ratings; 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))