Penny Warrants issuance to lenders
Company: TeraWulf
What the later record shows
Not a promise: a reported event · happened March 1, 2023
The Penny Warrants were issued under the Warrant Agreement entered into on March 1, 2023, the day before this claim was made. A later S-3/A restates the count as 27,759,265.
“On March 1, 2023, in connection with the execution of the Fifth Amendment to the LGSA, the Company entered into a Warrant Agreement to issue the following warrants to the lenders”
2024-03-19 · TeraWulf 10-K filed 2024-03-20 View cached copy (2026-09-13)Live source ↗
“The exercise period for the Penny Warrants is the period beginning on April 1, 2024 and ending at 5:00 p.m., New York City time, on December 31, 2025”
2024-03-21 · TeraWulf S-3/A filed 2024-03-22 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
Company issued 26,666,669 Penny Warrants to lenders representing 10% of fully diluted equity with exercise price of $0.01 per share, exercisable from April 1, 2024 through December 31, 2025
Source (primary)
TeraWulf 8-K filed 2023-03-03 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “26,666,669 warrants to purchase an aggregate number of shares of the Company's common stock equal to 10.0% of the fully diluted equity of the Company as of the Fifth Amendment Effective Date with an exercise price of $0.01 per share”
How we checked this
Checked on October 11, 2026. The cited source supports every part of this claim.
The filing states the number, equity percentage, exercise price and exercise window of the Penny Warrants issued to the lenders.
Confirmed in the source:
- TeraWulf entered into a Warrant Agreement to issue 26,666,669 Penny Warrants to the lenders
- The Penny Warrants represent 10.0% of fully diluted equity as of the Fifth Amendment Effective Date
- The Penny Warrants have an exercise price of $0.01 per share
- The Penny Warrants are exercisable from April 1, 2024 through December 31, 2025
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: “26,666,669 warrants to purchase an aggregate number of shares of the Company's common stock equal to 10.0% of the fully diluted equity of the Company as of the Fifth Amendment Effective Date with an exercise price of $0.01 per share”