TeraWulf forces conversion of Series A Preferred into common; effective Dec 9, 2025

TERAWULF INC.

Mandatory conversion of all Series A Convertible Preferred Stock into common on Dec 9, 2025; settlement Dec 11.
Conversion ratio: 141.9483 common shares per preferred share; ~1.215M new shares issued.
Outstanding common shares increase from ~419M to ~420M; preferred dividends cease after conversion date.
Trigger condition met: common stock price exceeded $13 (130% of $10 conversion price) on 5+ trading days Nov 4–24.
Holders may opt for early conversion before Dec 8 but forfeit accrued dividends.

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