TeraWulf ticks up after increased $900 mln convertible bonds sale to finance data center

Terawulf

30/10/2025 11:06

** TeraWulf's shares WULF.O up 0.6% at $14.59 premarket after above-target capital raise news

** Easton, Maryland-based WULF late Weds announced pricing private offering of $900 mln 0% convertible bonds due May 1, 2032

    ** Initial conversion price set at approx $19.94, 37.5% over stock's last close of $14.50

    ** WULF shares on Weds fell 9% after co unveiled $500 mln offering to
    fund construction cost of data center campus in Abernathy, Texas and for other purposes

    ** WULF shares on Tues jumped ~17% and closed at $15.94 after co earlier in the day expanded partnership with AI cloud platform Fluidstack through a new 168 MW joint venture at the Abernathy site, with
    Alphabet's GOOGL.O Google providing a $1.3 bln backstop

    ** Through Weds, WULF shares have gained about 190% over the past three months, putting them up 156% YTD

    ** 12 of 13 analysts rate WULF "strong buy" or "buy", 1 has "hold"; median PT of $20 up from $12.50 a month ago, per LSEG data

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

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