Convertible promissory note issuance and conversion
Company: TeraWulf
The claim, verbatim
On November 25, 2022, TeraWulf issued a Convertible Promissory Note with a principal amount of $853,912.33 at 4% annual interest, which automatically converted into 2,157,006 shares of Common Stock at $0.40 per share on February 28, 2023 following stockholder approval.
Source (primary)
TeraWulf SC 13D/A filed 2023-03-02 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “On November 25, 2022, Bayshore purchased from the Issuer a Convertible Promissory Note with an aggregate original principal amount of $853,912.33... As amended, the Convertible Note accrued annual interest at a rate of 4%... 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... As amended, the Convertible Note accrued annual interest at a rate of 4%... 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”