TeraWulf Completes $500 Million Convertible Notes Offering

Paul, Weiss advised TeraWulf Inc., a leading owner and operator of environmentally sustainable U.S. bitcoin mining facilities, on its $500 million private offering of 2.75% convertible senior notes due 2030. In conjunction with the offering, TeraWulf entered into capped call transactions and repurchased $115 million of its common stock.

The Paul, Weiss team was led by corporate partner David Huntington and included partners Kerri Durso and Manuel Frey and counsel Tom Good; tax partner Reuven Garrett and counsel Patrick Karsnitz; litigation partner Geoffrey Chepiga; and environmental counsel William O’Brien.