secwatch.observer — SEC 8-K summary
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Issuer:     TERAWULF INC. (WULF)
CIK:        0001083301
Form:       8-K
Filed at:   2023-02-02T23:59:59+00:00
Accession:  0001104659-23-009630
Event type: other_material
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TeraWulf raises ~$32M equity, restructures debt; expects positive cash flow in Q2 2023
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- Public offering of 36.8M shares for $25M gross proceeds; underwriters have 30-day option for 5.5M additional shares.
- Debt restructuring replaces term loan amortization with free cash flow sweep through April 2024, pending equity raise condition.
- Management co-founders invested $2.5M in private placement at $1.05/share; additional $4.25M from warrant exercises and other equity.
- Paul Prager entity exchanged 12M common shares for warrants exercisable at $0.00001 after charter amendment approval.
- Targeting 160 MW and 5.5 EH/s mining capacity in Q2 2023; expects to be fully funded to positive free cash flow.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1083301/000110465923009630/0001104659-23-009630-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1083301/000110465923009630/tm234924d3_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-009630

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