secwatch.observer — SEC 8-K summary
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Issuer:     TERAWULF INC. (WULF)
CIK:        0001083301
Form:       8-K
Filed at:   2022-12-01T23:59:59+00:00
Accession:  0001083301-22-000055
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1083301/000108330122000055/0001083301-22-000055-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1083301/000108330122000055/tmb-20221201x8k.htm
  HTML page:      https://secwatch.observer/filing/0001083301-22-000055

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer