Terawulf’s (Wulf) Breakneck Rally cooled on Tuesday when the company increased its sale of notes convertible to $ 850 million and announced the offer price, aimed at financing its expansion of the data center.
The notes will defeat in 2031 with the annual interest, and will be interchangeable in cash, shares or both in the Terawulf elections, the company said in a press release on Monday. The initial conversion price is established at $ 12.43 per share, which represents a 32.5% premium for the closing of last week.
Net income is estimated at $ 828.7 million, and are destined to expand the data center with $ 85.5 million for limited calls designed to limit the dilution of shares, the firm said. Buyers have a 13 -day option to add another $ 150 million to the agreement, which is expected to close this week.
Wulf fell 5% below $ 9, withdrawing from the maximum of $ 10.7 on Monday after a demonstration of almost 100% after a Thursday agreement with the AI Cloud Fluidstack platform, which is backed by the technological giant Google.
According to a 10 -year accommodation agreement, Fluidstack will expand operations on the Terawulf’s Lake Mariner campus in New York, backed by the increase of $ 1.4 billion from Google to the support of the debt for the project. Google Now has orders that represent a 14% capital participation in the company.
Read more: Terawulf adds another 10% as Google Lifts stake
