Convertible note issuance and conversion
Company: TeraWulf
The claim, verbatim
On November 25, 2022, TeraWulf issued a Convertible Promissory Note with principal amount of $853,912.33 to Bayshore Capital LLC. The note accrued 4% annual interest and automatically converted upon stockholder approval at a conversion price of $0.40. On February 23, 2023, stockholder approval was obtained, and on February 28, 2023, the note converted into 2,157,006 shares of Common Stock plus approximately $8,890 of accrued interest.
Source (primary)
TeraWulf SC 13D/A filed 2023-03-02 (SEC EDGAR, sec_filing)
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Quote: “On November 25, 2022, Bayshore purchased from the Issuer a Convertible Promissory Note with an aggregate original principal amount of $853,912.33... On February 23, 2023, the Issuer received the Stockholder Approval and on February 28, 2023, the entire aggregate principal amount of the Convertible Note and approximately $8,890 of accrued but unpaid interest thereon was converted into an aggregate of 2,157,006 shares of Common Stock based on a conversion price of $0.40”
How we checked this
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Additional evidence
confirms TeraWulf SC 13D/A filed 2023-03-02
Quote: “On November 25, 2022, Bayshore purchased from the Issuer a Convertible Promissory Note with an aggregate original principal amount of $853,912.33... On February 23, 2023, the Issuer received the Stockholder Approval and on February 28, 2023, the entire aggregate principal amount of the Convertible Note and approximately $8,890 of accrued but unpaid interest thereon was converted into an aggregate of 2,157,006 shares of Common Stock based on a conversion price of $0.40”