Term loan maturity extension contingency
Company: TeraWulf
What the later record shows
Delivered on time · happened February 29, 2024
The 10-K says TeraWulf reached $40.0 million of aggregate Term Loan repayment in February 2024, before the April 1, 2024 deadline. That automatically extended the excess cash flow sweep to the December 1, 2024 maturity.
“In February 2024, the Company achieved aggregate repayment of $ 40.0 million of the principal balance of the Term Loans, thereby automatically extending the excess cash flow sweep to December 1, 2024”
2024-03-19 · TeraWulf 10-K filed 2024-03-20 View cached copy (2026-09-13)Live source ↗
“repaid at least $ 40.0 million of the principal balance of the Term Loans by April 1, 2024, which the Company did in February 2024”
2025-08-07 · TeraWulf 10-Q filed 2025-08-08 View cached copy (2026-08-31)Live source ↗
Checked October 9, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
Excess cash flow sweep extends term loan maturity to December 1, 2024 if Company repays at least 40 million dollars of principal by April 1, 2024
Source (primary)
TeraWulf 10-K filed 2023-03-31 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “the excess cash flow sweep in place of scheduled principal payments, which will automatically extend to the maturity of the term loan on December 1, 2024 in the event the Company repays at least $40 million of the term loan by April 1, 2024”
How we checked this
Checked on October 11, 2026. The cited source supports part of this claim, but not all of it.
The 10-K says the cash-sweep-in-place-of-amortization arrangement extends to the existing December 1, 2024 maturity if $40 million is repaid by April 1, 2024. It does not say the maturity date itself is extended.
Confirmed in the source:
- An excess cash flow sweep replaces scheduled principal payments on the term loan
- The term loan's maturity date is December 1, 2024
- The sweep arrangement is contingent on the Company repaying at least $40 million of the term loan by April 1, 2024
We could not confirm this from the cited source:
- That the cash flow sweep extends the term loan's maturity to December 1, 2024. The 10-K says the sweep arrangement itself extends to the loan's existing December 1, 2024 maturity date, not that the maturity is pushed out.
That does not mean it is false — only that this source does not establish it, as of the date above. If we find a source that settles it, we will re-check and update this page.
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1083301/000155837023005301/wulf-20221231x10k.htm) in full (569,235 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms TeraWulf 10-K filed 2023-03-31
Quote: “the excess cash flow sweep in place of scheduled principal payments, which will automatically extend to the maturity of the term loan on December 1, 2024 in the event the Company repays at least $40 million of the term loan by April 1, 2024”
confirms TeraWulf 10-Q filed 2025-08-08
Quote: “repaid at least $ 40.0 million of the principal balance of the Term Loans by April 1, 2024, which the Company did in February 2024”
confirms TeraWulf 10-K filed 2024-03-20
Quote: “In February 2024, the Company achieved aggregate repayment of $ 40.0 million of the principal balance of the Term Loans, thereby automatically extending the excess cash flow sweep to December 1, 2024”