secwatch.observer — SEC 8-K summary
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Issuer:     TERAWULF INC. (WULF)
CIK:        0001083301
Form:       8-K
Filed at:   2025-08-22T23:59:59+00:00
Accession:  0001104659-25-081886
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.03, 3.02, 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TeraWulf exercises greenshoe, ups convertible notes offering to $1.0B; net proceeds $975.2M
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- Initial purchasers fully exercised option for $150M additional notes; total principal now $1.0B.
- Capped call transactions with $18.76 cap price added; cost $15.1M; total capped call cost $100.6M.
- Net proceeds of $975.2M after discounts and expenses; used for data center expansion and general corporate purposes.
- Notes carry 1.00% conversion rate, due 2031; initial conversion price ~$12.43 per share.
- Capped call transactions expected to reduce dilution upon conversion; $18.76 cap premium 100% over August 18 close.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1083301/000110465925081886/0001104659-25-081886-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1083301/000110465925081886/tm2523651d6_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-081886

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