Term loan maturity extension requirement
Company: TeraWulf
What the later record shows
Delivered on time · happened February 29, 2024
The $40.0 million repayment condition was met in February 2024, ahead of April 1, 2024. The sweep therefore extended to the Term Loans' December 1, 2024 maturity.
“In February 2024, the Company repaid $ 40.0 million of the principal balance of the Term Loans, in the aggregate, thereby automatically extending the excess cash flow sweep to the maturity of the Term Loans”
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
Term loan maturity automatically extends to December 1, 2024 if company repays at least $40 million 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: “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 filing ties the $40 million repayment by April 1, 2024 to extending the cash-flow-sweep amortization relief through the existing December 1, 2024 maturity. It does not say the maturity date itself is extended.
Confirmed in the source:
- The term loan matures on December 1, 2024
- A condition is triggered if the Company repays at least $40 million of the term loan by April 1, 2024
We could not confirm this from the cited source:
- That the term loan's maturity date extends to December 1, 2024; the filing says December 1, 2024 is already the maturity date, and what extends to that date is the excess cash flow sweep that replaces scheduled principal payments
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: “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 repaid $ 40.0 million of the principal balance of the Term Loans, in the aggregate, thereby automatically extending the excess cash flow sweep to the maturity of the Term Loans”