TeraWulf Inc (NASDAQ:WULF) shares fell in Wednesday’s premarket session. The decline follows a late Tuesday announcement regarding the pricing of an upsized public common stock offering.
Nasdaq futures are down 0.22% while S&P 500 futures have shed 0.19%.
Offering Upsized to $900 Million
The digital asset technology firm priced 47,400,000 shares at $19.00 per share. This upsized the gross proceeds to approximately $900 million from the initial $800 million target.
The company granted underwriters a 30-day option to buy an additional 7.11 million shares. The offering should close by Thursday.
On Tuesday, WULF stock gained 7.71% to close at $20.95. The offering announcement was at $19.00, much lower than Tuesday’s closing price, which led to the stock falling on Wednesday.
The company …
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