---
schema_version: "secwatch.filing_event.v1"
accession: "0001083301-22-000055"
form_type: "8-K"
ticker: "WULF"
cik: "0001083301"
company_name: "TERAWULF INC."
filed_at: "2022-12-01T23:59:59+00:00"
generated_at: "2026-06-21T10:36:28.892105+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# TeraWulf amends Yorkville note, extends maturity to Dec 23, reduces principal to $6M; insiders provide $3.4M

## Summary
- Extended maturity of $15M convertible note with Yorkville to Dec 23, 2022; repaid $3M principal, now $6M outstanding.
- Insiders and management contributed ~$3.4M via convertible notes (maturing Apr 2025, 4% interest) to fund repayment.
- The $3.4M notes auto-convert to equity upon a qualified financing of at least $5M.
- Conversion price previously reduced from $3.75 to $1.26 per share in October amendment.

## SEC filing metadata
- accession: 0001083301-22-000055
- form_type: 8-K
- ticker: WULF
- cik: 0001083301
- company_name: TERAWULF INC.
- filed_at: 2022-12-01T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1083301/000108330122000055/0001083301-22-000055-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1083301/000108330122000055/tmb-20221201x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001083301-22-000055
- JSON: https://secwatch.observer/filing/0001083301-22-000055.json
- Plain text: https://secwatch.observer/filing/0001083301-22-000055.txt

## Key facts
- Debt Financings
  TERAWULF INC. amended convertible notes of $6 million with YA II PN, Ltd. at 4% maturing December 23, 2022.
  - Instrument: convertible notes
  - Principal: $6 million
  - Counterparty: YA II PN, Ltd.
  - Rate: 4%
  - Maturity: December 23, 2022
  - Event: amendment
  source text: the maturity date to December 23, 2022. Concurrent with the amendment, the Company repaid a further $3 million of principal, reducing the total principal amount outstanding to $6 million. The November payment was funded by insiders and Company management contributing approximately $3.4 million to the Company in the form of convertible promissory notes, which will
  evidence_url: https://www.sec.gov/Archives/edgar/data/1083301/000108330122000055/0001083301-22-000055-index.htm
- Debt Financings
  TERAWULF INC. incurred convertible notes of $3.4 million at 4% maturing April 1, 2025.
  - Instrument: convertible notes
  - Principal: $3.4 million
  - Rate: 4%
  - Maturity: April 1, 2025
  - Event: incurrence
  source text: the Company issued convertible promissory notes (the “Convertible Notes”) to certain accredited investors in privately negotiated transactions as part of a private placement exempt from registration under the Securities Act of 1933, as amended, in an aggregate principal amount of approximately $3.4 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1083301/000108330122000055/0001083301-22-000055-index.htm
- Material Agreements
  TERAWULF INC. entered into Convertible Notes with certain accredited investors valued at approximately $3.4 million.
  - Action: entry
  - Agreement: notes offering
  - Counterparty: certain accredited investors
  - Value: approximately $3.4 million
  source text: the Company issued convertible promissory notes (the “Convertible Notes”) to certain accredited investors in privately negotiated transactions as part of a private placement exempt from registration under the Securities Act of 1933, as amended, in an aggregate principal amount of approximately $3.4 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1083301/000108330122000055/0001083301-22-000055-index.htm
- Material Agreements
  TERAWULF INC. amended Second A&R Advance with YA II PN, Ltd. (Yorkville) (effective 2022-11-25).
  - Action: amendment
  - Agreement: notes offering
  - Counterparty: YA II PN, Ltd. (Yorkville)
  - Effective: 2022-11-25
  source text: On November 25, 2022, the Company entered into a letter agreement with Yorkville pursuant to which it agreed to further amend and restate the Advance in its entirety by issuing a second amended and restated convertible promissory note to Yorkville (the “Second A&R Advance”) which, among other things, extended the Maturity Date to December 23, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1083301/000108330122000055/0001083301-22-000055-index.htm

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