Bitcoin mining company TeraWulf has announced its intention to raise $350 million through the offering of convertible senior notes. The funds will primarily be allocated to support a $200 million share repurchase program.
In a statement released on Wednesday, TeraWulf revealed that initial purchasers of the notes will have the option to add an additional $75 million within the first 13 days following the issuance. The convertible notes are set to mature on February 1, 2030.
While the company has not yet disclosed the interest rates associated with the notes, it has indicated that this information will be available at a later date. Additionally, TeraWulf’s Board of Directors has authorized the repurchase of up to $200 million of its outstanding shares, with a completion target set for December 31, 2025.
This strategic move underscores TeraWulf’s commitment to enhancing shareholder value while strengthening its financial position in the competitive bitcoin mining sector.
October 2024, Cryptoniteuae
