Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
TERAWULF INC. amended convertible notes of approximately $3.4 million at 4% maturing April 1, 2025.
- Instrument
- convertible notes
- Principal
- approximately $3.4 million
- Rate
- 4%
- Maturity
- April 1, 2025
- Event
- amendment
Exact text from the filing
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. The Convertible Notes have a maturity date of April 1, 2025 and accrue annual interest at a rate of 4%. On December 12, 2022, the Convertible Notes were amended (the “Amended
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
TERAWULF INC. amended Convertible Notes with certain accredited investors (effective 2022-12-12).
- Action
- amendment
- Agreement
- notes offering
- Counterparty
- certain accredited investors
- Effective
- 2022-12-12
Exact text from the filing
On December 12, 2022, the Convertible Notes were amended (the “Amended Convertible Notes”) to provide that they are automatically convertible on March 1, 2023 (the “Conversion Date”), at a conversion price equal to the lowest price per share paid by investors purchasing equity securities in any issuance and sale of equity securities by the Company between the issuance date of the Amended Convertible Notes and their Conversion Date with an aggregate gross sales price of not less than $5 million, subject to certain exclusions set forth in the Amended Convertible Notes (a “Conversion Financing”), into shares of the equity securities sold by the Company in such Conversion Financing.
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