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

Issuer:     TERAWULF INC. (WULF)
CIK:        0001083301
Form:       8-K
Filed at:   2025-12-29T23:59:59+00:00
Accession:  0001104659-25-124839
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TeraWulf JV subsidiary issues $1.3B of 7.250% Senior Secured Notes due 2030 for HPC campus
--------------------------------------------------------------------------------

- Flash Compute LLC issued $1.3B aggregate principal amount of 7.250% notes at 100% of par; semi-annual interest, maturity Dec 31, 2030.
- Proceeds will fund construction of the Abernathy HPC Campus in Texas, plus $75M cash collateral for a letter of credit and fees.
- JV Partners Holdco (50.1% owned by TeraWulf subsidiary) provides a capped $100M completion guarantee for the campus construction.
- Notes are senior secured obligations of Flash Compute; amortization begins after campus completion, with optional redemption starting Dec 31, 2027.
- Indenture includes limits on additional debt, dividends, investments, and asset sales; change of control triggers repurchase at 101%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1083301/000110465925124839/0001104659-25-124839-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1083301/000110465925124839/tm2534384d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-124839

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