CandleFocus TeraWulf stock tumbles 7% amid $425 million convertible notes announcement
2024-10-25
Author: Content Editor
Bitcoin mining firm TeraWulf Inc. saw a 7% drop in its stock price after announcing a $425 million offering of convertible senior notes due in 2030. The offering aims to raise funds for various purposes, including the repurchase of common stock and the expansion of the company's high-performance computing activities. The notes will be convertible into cash or shares of common stock at the company's discretion. TeraWulf has also entered into capped call transactions to limit potential dilution and offset any cash payments exceeding the principal amount of the notes. The stock price decline is seen as a healthy retracement after a significant climb earlier in the month.
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