TeraWulf Raises $1 Billion in Equity Offering

Paul, Weiss advised TeraWulf Inc., a vertically integrated owner, developer and operator of large-scale digital infrastructure, in a registered public offering of $1 billion of common stock. TeraWulf intends to use the net proceeds from the offering to fund a portion of the construction costs for its planned data center campus in Hawesville, Kentucky, and for future site acquisitions and general corporate purposes. Morgan Stanley acted as lead bookrunning manager for the offering.

The Paul, Weiss team was led by corporate partner David Huntington.