---
schema_version: "secwatch.filing_event.v1"
accession: "0000950142-24-002636"
form_type: "8-K"
ticker: "WULF"
cik: "0001083301"
company_name: "TERAWULF INC."
filed_at: "2024-10-25T23:59:59+00:00"
generated_at: "2026-05-30T09:57:04.761045+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# TeraWulf closes $500M 2.75% convertible notes offering, repurchases $115M of stock

## Summary
- Net proceeds ~$487.1M; $60M for capped calls, $115M for share repurchase (17.97M shares at $6.40), remainder for general corporate including HPC infrastructure expansion.
- Initial conversion price ~$8.48 per share (117.9245 shares per $1,000 note); cap price $12.80 (100% premium over reference price).
- Capped call transactions reduce dilution until stock price exceeds $12.80; combined with buyback, net shares not exceed repurchased until price above $18.41.
- Use of proceeds includes strategic acquisitions and data center expansion for high-performance computing.

## SEC filing metadata
- accession: 0000950142-24-002636
- form_type: 8-K
- ticker: WULF
- cik: 0001083301
- company_name: TERAWULF INC.
- filed_at: 2024-10-25T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1083301/000095014224002636/0000950142-24-002636-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1083301/000095014224002636/eh240549125_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950142-24-002636
- JSON: https://secwatch.observer/filing/0000950142-24-002636.json
- Plain text: https://secwatch.observer/filing/0000950142-24-002636.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.