Core Viewpoint - TeraWulf plans to offer $500 million of convertible senior notes due 2032, with an option for initial purchasers to acquire an additional $75 million within a 13-day launch period [1][2]. Group 1: Financial Details - The company intends to use the net proceeds from the offering to fund a portion of the construction costs for its data center campus in Abernathy, Texas [2]. - The notes will be classified as senior unsecured obligations [2]. Group 2: Conversion Terms - Prior to February 1, 2032, conversions of the notes will only be allowed under certain conditions and during designated windows; after this date, holders may convert at any time until two trading days before the maturity date [3]. - Upon conversion, TeraWulf will settle the aggregate principal amount in cash and may deliver cash, shares of its common stock, or a combination thereof for any excess conversion obligation, at the company's discretion [3]. - The initial conversion rate and other final terms will be determined during pricing negotiations with the initial purchasers [3]. Group 3: Market Reaction - At the time of publication, TeraWulf's stock (WULF) was down 2.7% during pre-market hours [4].