Term loan maturity extension contingency
Company: TeraWulf
What the later record shows
Delivered on time · happened February 29, 2024
The 2023 10-K says TeraWulf repaid $40.0 million of term loan principal in February 2024, before the April 1, 2024 deadline. That automatically extended the arrangement to December 1, 2024.
“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 ↗
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 will automatically extend to December 1, 2024 if company repays at least $40 million of term loans 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: “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.
December 1, 2024 is the term loans' existing maturity date in the filing. The automatic extension tied to repaying $40 million applies to the cash-sweep arrangement, not the maturity date.
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
We could not confirm this from the cited source:
- That the maturity of TeraWulf's term loans automatically extends 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: “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-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”