Mandatory amortization of term loans eliminated through April 8, 2024 conditional on equity proceeds
Company: TeraWulf
What the later record shows
Delivered on time · happened March 9, 2023
The $33.5 million equity-raise condition was met on March 9, 2023, before the March 15 deadline. Amortization relief then applied through April 2024 and beyond.
“The Company satisfied the Qualifying Equity Capital Raise condition on March 9, 2023.”
2023-03-09 · TeraWulf S-3/A filed 2023-03-10 View cached copy (2026-09-13)Live source ↗
“the Company amended its long-term debt agreement (see Note 9) to, among other changes, remove the fixed principal amortization through April 7, 2024 and, subsequent to December 31, 2023, through maturity on December 1, 2024”
2024-03-19 · TeraWulf 10-K filed 2024-03-20 View cached copy (2026-09-13)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
Mandatory amortization of term loans is eliminated through April 8, 2024, conditional upon company receiving $33.5 million from equity issuance by March 15, 2023
Source (primary)
TeraWulf 8-K filed 2023-03-03 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “The Fifth Amendment eliminates mandatory amortization of the term loans under the Loan Agreement (the "Term Loans") through April 8, 2024, as long as the Company receives aggregate net proceeds of at least $33.5 million from the issuance of equity or equity-linked securities by March 15, 2023”
How we checked this
Checked on October 11, 2026. The cited source supports every part of this claim.
The filing states that mandatory amortization is eliminated through April 8, 2024, provided TeraWulf raises at least $33.5 million in equity or equity-linked proceeds by March 15, 2023.
Confirmed in the source:
- The Fifth Amendment eliminates mandatory amortization of the term loans through April 8, 2024
- The relief is conditional on TeraWulf receiving aggregate net proceeds of at least $33.5 million from equity or equity-linked securities by March 15, 2023
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1083301/000110465923028517/tm238231d2_8k.htm) in full (11,914 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms TeraWulf 8-K filed 2023-03-03
Quote: “The Fifth Amendment eliminates mandatory amortization of the term loans under the Loan Agreement (the "Term Loans") through April 8, 2024, as long as the Company receives aggregate net proceeds of at least $33.5 million from the issuance of equity or equity-linked securities by March 15, 2023”
confirms TeraWulf 10-K filed 2024-03-20
Quote: “the Company amended its long-term debt agreement (see Note 9) to, among other changes, remove the fixed principal amortization through April 7, 2024 and, subsequent to December 31, 2023, through maturity on December 1, 2024”
confirms TeraWulf S-3/A filed 2023-03-10
Quote: “The Company satisfied the Qualifying Equity Capital Raise condition on March 9, 2023.”