ConvertibleActive
1% Convertible Notes due 2031
WULF-Sep31
BTC Holdings
3 BTC
Total Debt
$7.03B
Leverage
1759922.5%
mNAV
37115.52x
Outstanding
$1.00B
Issue date
2025-08-20
Principal
$1.00B
Coupon
1.00%
Maturity
2031-09-01
Conversion price
$12.43
Terms & Documentation
Terms
- BTC strategy
- No
- Ranking
- Senior unsecured
- Settlement
- Issuer election
- Payment frequency
- Semi-annual
- Payment dates
- Mar 1, Sep 1
- Rate type
- Fixed
- Forced conversion
- On or after Sep 6 2028 if stock >= 130% of conversion price for 20 of 30 consecutive trading days
- Put provision
- Fundamental change: holders may require repurchase at 100% of principal plus accrued interest
- Use of proceeds
- Capped call transactions, data center expansion, and general corporate purposes
- Capped call
- Capped call at $18.76 (100% premium); total cost approximately $100.6M including additional notes
Sources(1)
- Form 8-K (1.00% convertib…FilingForm 8-K (1.00% convertible notes closing)Item 1.01TeraWulf Inc. — 2025-08-20
Outstanding History
Outstanding history(2)
| As of | Event | Outstanding | Source |
|---|---|---|---|
| 2025-08-22 | Overallotment | $1.00B | Form 8-K (1.00% convertib… |
| 2025-08-20 | Issuance | $850.00M | Form 8-K (1.00% convertib… |
- 2025-08-22 — $1,000,000,000Item 3.02 — filing — TeraWulf Inc.Source
- 2025-08-20 — $850,000,000Item 1.01 — filing — TeraWulf Inc.Source