Loan maturity extends to December 1, 2024 if company repays $40 million by April 1, 2024
Company: TeraWulf
What the later record shows
Delivered on time · happened February 29, 2024
The company repaid $40 million of term loan principal in February 2024, before the April 1, 2024 deadline. This automatically extended the cash-sweep regime 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 ↗
“the Company 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
Maturity of term loans will automatically extend to December 1, 2024 if company repays at least $40 million by April 1, 2024
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 provides for an excess cash flow sweep in place of scheduled principal payments, which will automatically extend to the maturity of the Term Loans on December 1, 2024 in the event the Company repays at least $40 million of the Term Loans 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 gives December 1, 2024 as the term loans' maturity date. The $40 million repayment by April 1, 2024 extends the cash-sweep arrangement through that maturity, not the maturity itself.
Confirmed in the source:
- The trigger is TeraWulf repaying at least $40 million of the term loans by April 1, 2024
- The term loans mature on December 1, 2024
- The Fifth Amendment provides for an excess cash flow sweep in place of scheduled principal payments
We could not confirm this from the cited source:
- That the maturity date of TeraWulf's term loans is itself extended to December 1, 2024; the filing says the excess cash flow sweep replacing scheduled principal payments extends to the existing December 1, 2024 maturity
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/1083301/000110465923028517/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 provides for an excess cash flow sweep in place of scheduled principal payments, which will automatically extend to the maturity of the Term Loans on December 1, 2024 in the event the Company repays at least $40 million of the Term Loans by April 1, 2024”
confirms TeraWulf 10-Q filed 2025-08-08
Quote: “the Company 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”