US Stock Movement | Large-scale Issuance Dilutes Equity, TeraWulf Drops Over 5% Pre-market

Golden Finance April 15｜Bitcoin mining company TeraWulf (WULF.US) fell more than 5% to $19.84 in pre-market trading. According to reports, TeraWulf Inc has announced the pricing for its previously publicized public offering of common stock (“the Offering”). The company issued 47.4 million shares at $19 per share, raising a total of about $900 million, exceeding the previously planned $800 million. The added equity represents a relatively high proportion of the existing circulation, directly diluting the interests of current shareholders. In addition, announcing a new share issuance when the stock price is at a high level may prompt many short-term profit holders to sell, increasing downward pressure on the stock price.