DLA Piper advises Initial Purchasers, led by Cantor Fitzgerald & Co., in $500 Million Convertible Notes Offering for TeraWulf

DLA Piper advised the initial purchasers, led by Cantor Fitzgerald & Co., as sole book-running manager, in an offering of US$500 million aggregate principal amount of 2.75% Convertible Senior Notes due 2030 by TeraWulf Inc., a leading owner and operator of vertically integrated, next-generation digital infrastructure powered by predominantly zero-carbon energy.

“It was a pleasure to work with these institutions and bring together the capabilities and resources of our firm to help our clients and the company execute a successful offering,” said Stephen Alicanti, DLA Piper partner and co-lead.

“This offering is another great example of the DLA capital markets team delivering the client results that we’ve become known for in the equity-linked space,” said Drew Valentine, DLA Piper partner and co-lead.

Alongside Alicanti (New York) and Valentine (New York and Austin), the core deal team included associates Jordyn Giannone, Andrew Wolfe, Alexander Grynszpan (all in New York) and Jenna Berger Fontenot (Miami). Partner Marc Horwitz (Chicago) and associate Payvand Sara Coyle (Los Angeles) advised on equity derivatives matters. The team received support from partners Andrew Westgate (New York), Eric Forni (Boston) and William Bartow (Philadelphia); of counsel Andrea Chambers (Washington, DC); and associates Molly Patricia McBride (Los Angeles) and Carolyn Elizabeth Clarkin (Washington, DC).

DLA Piper’s global capital markets team represents issuers and underwriters in registered and unregistered equity, equity-linked and debt capital markets transactions, including initial public offerings, follow-on equity offerings, equity-linked securities offerings, and offerings of investment grade and high-yield debt securities.