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

Issuer:     TERAWULF INC. (WULF)
CIK:        0001083301
Form:       8-K
Filed at:   2025-10-31T23:59:59+00:00
Accession:  0001104659-25-104928
Event type: debt
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TeraWulf closes $1.025B 0% convertible notes offering; net proceeds ~$999.7M for data center buildout
--------------------------------------------------------------------------------

- Completed $1.025B 0.00% Convertible Senior Notes due 2032; net proceeds ~$999.7M after discounts and expenses.
- Initial conversion rate 50.1567 shares per $1,000 principal (~$19.94/share); convertible only upon certain events before Feb 2032.
- Proceeds earmarked for construction of Abernathy, Texas data center campus and general corporate purposes.
- Included full exercise of $125M option to purchase additional notes by initial purchasers.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1083301/000110465925104928/0001104659-25-104928-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1083301/000110465925104928/tm2529894d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-104928

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