secwatch.observer — SEC 8-K summary
======================================

Issuer:     TERAWULF INC. (WULF)
CIK:        0001083301
Form:       8-K
Filed at:   2022-10-28T23:59:59+00:00
Accession:  0001104659-22-112528
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

TeraWulf amends Yorkville convertible note: conversion price cut from $3.75 to $1.26, maturity extendable to Dec 23
--------------------------------------------------------------------------------

- Original $15M advance (net $14.7M) at 4% interest due Nov 25, 2022; amendment gives Yorkville right to extend maturity to Dec 23, 2022.
- Conversion price reduced from $3.75 to $1.26 per share, increasing potential dilution for existing shareholders.
- Amended and restated convertible promissory note issued to YA II PN, Ltd. (Yorkville) on Oct 25, 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1083301/000110465922112528/0001104659-22-112528-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1083301/000110465922112528/tm2229120d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-112528

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