TeraWulf Inc. Announces Proposed Offering of $3.2 Billion of Senior Secured Notes

Core Viewpoint - TeraWulf Inc. plans to offer $3.2 billion in senior secured notes to finance the expansion of its data center at the Lake Mariner campus in New York, with the offering subject to market conditions [1][2]. Group 1: Offering Details - WULF Compute LLC intends to offer $3.2 billion aggregate principal amount of senior secured notes due 2030 in a private offering [1]. - The notes will be fully guaranteed by WULF Compute's subsidiaries and secured by first-priority liens on substantially all assets of WULF Compute and the Guarantors [3]. - The offering is being managed by Morgan Stanley as the Sole Bookrunner [4]. Group 2: Use of Proceeds - The net proceeds from the offering will be used to finance a portion of the data center expansion at the Lake Mariner campus [2]. - TeraWulf will provide customary completion guarantees to ensure the timely completion of the data center buildings [4]. Group 3: Regulatory and Legal Considerations - The notes have not been registered under the Securities Act and will only be offered to qualified institutional buyers under Rule 144A [5]. - The press release does not constitute an offer to sell or a solicitation of an offer to buy the notes [6]. Group 4: Company Overview - TeraWulf develops and operates environmentally sustainable, industrial-scale data center infrastructure in the U.S., focusing on high-performance computing [7]. - The company is led by a team of experienced energy infrastructure entrepreneurs and aims to lead the market in large-scale digital infrastructure [7].