WULF · TeraWulf Inc.

TeraWulf Inc. has successfully priced a significant capital raise, upsizing its public common stock offering from $800 million to approximately $900 million. The transaction involves the sale of 47.4 million shares at $19.00 per share and is anticipated to close on April 16, 2026, pending standard closing conditions. The substantial size of the offering reflects strong investor demand and provides the company with necessary capital to execute on its strategic infrastructure initiatives. The proceeds are specifically allocated to fund the construction of the company's planned data center campus in Hawesville, Kentucky, and to fully repay outstanding amounts under its bridge credit facility. Additionally, the capital will support future site acquisitions and general corporate purposes. The granting of a 30-day option to underwriters to purchase up to 7.11 million additional shares provides potential for further capital generation. Morgan Stanley's role as lead bookrunning manager and Cantor Fitzgerald's position as equity capital markets advisor underscore the institutional support for the transaction. This offering materially strengthens TeraWulf's financial position, enabling the advancement of its high-performance computing and bitcoin mining infrastructure capabilities.