secwatch.observer — SEC 8-K summary
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Issuer:     TERAWULF INC. (WULF)
CIK:        0001083301
Form:       8-K
Filed at:   2025-08-19T23:59:59+00:00
Accession:  0001104659-25-079960
Event type: debt
Sentiment:  neutral
Materiality: 0.80
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TeraWulf upsizes and prices $850M 1% Convertible Senior Notes due 2031 for data center expansion
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- $850M aggregate principal amount, 1.00% interest, semi-annual, matures Sept 1, 2031.
- Initial conversion price ~$12.43/share (32.5% premium to Aug 18 closing price of $9.38).
- Initial purchasers have 13-day option to buy up to an additional $150M in notes.
- Net proceeds ~$828.7M (or ~$975.2M if option exercised); $85.5M for capped call transactions, remainder for data center expansion and general corporate purposes.
- Offering expected to close Aug 20, 2025; capped call transactions with cap price of $18.76/share (100% premium).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1083301/000110465925079960/0001104659-25-079960-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1083301/000110465925079960/tm2523651d4_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-079960

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