Terawulf (Wulf) The Breakneck rally was cooled on Tuesday as the company increased its sale of convertible tickets to $ 850 million and announced the price of the offer, aimed at finance its expansion of the data center.
Tickets will mature in 2031 with annual interests of 1% and will be exchangeable in cash, in shares or both during the Terawulf elections, the company announced in a press release on Monday. The initial conversion price is set at $ 12.43 per share, which represents a 32.5% bonus at last week’s fence.
Net products are estimated at $ 828.7 million and are intended for the expansion of the data center with 85.5 million dollars intended for capped call transactions designed to limit the dilution of shares, said the company. Buyers have an option of 13 days to add additional $ 150 million to the agreement, which is expected to conclude this week.
WULF dropped 5% below $ 9, retreating from the height of $ 10.7 on Monday after a rally of almost 100% after a Thursday agreement with the Fluidstack cloud platform, which is supported by the Google technology giant.
Under a 10 -year accommodation agreement, Fluidstack will expand the operations of the Lake Marinerf campus in Terawulf in New York, supported by the increase of $ 1.4 billion from Google to its support for debt for the project. Google now has mandates representing a 14% stake in the company.
Read more: Terawulf adds another 10% while Google raises participation
