TeraWulf Completes $1.025 Billion Convertible Notes Offering

Paul, Weiss advised TeraWulf Inc., a leading owner and operator of vertically integrated, low-carbon digital infrastructure, on its $1.025 billion private offering of 0% convertible senior notes due 2032. Morgan Stanley and Cantor Fitzgerald served as bookrunning managers for the offering. TeraWulf will use the proceeds of the offering to fund construction of a data center campus in Abernathy, Texas and for general corporate purposes.

The Paul, Weiss team was led by corporate partner David Huntington and included partners Kerri Durso and Samita Ali-Khan; and tax partner Reuven Garrett.