Qualifying equity capital raise requirement
Company: TeraWulf
What the later record shows
Delivered on time · happened March 9, 2023
The 10-K states the $33.5M Qualified Equity Capital Raise condition was satisfied on March 9, 2023, before the March 15 deadline.
“The Company satisfied the Qualified Equity Capital Raise condition on March 9, 2023.”
2023-03-30 · TeraWulf 10-K filed 2023-03-31 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 required to complete an equity capital raise with aggregate net proceeds of at least $33.5 million by March 15, 2023
Source (primary)
TeraWulf 424B5 filed 2023-02-01 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “the completion of an equity capital raise with aggregate net proceeds of at least $33.5 million by March 15, 2023”
How we checked this
Checked on October 11, 2026. The cited source supports every part of this claim.
The prospectus supplement states the $33.5 million net-proceeds raise by March 15, 2023 as a condition for the lenders eliminating mandatory amortization. The requirement is a condition of that loan relief, not a standalone obligation.
Confirmed in the source:
- TeraWulf's binding term sheet with its lenders (January 27, 2023) conditions relief from mandatory term-loan amortization on completing an equity capital raise
- The equity capital raise must have aggregate net proceeds of at least $33.5 million
- The equity capital raise must be completed by March 15, 2023
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1083301/000110465923009269/tm234924-1_424b5.htm) in full (216,660 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms TeraWulf 424B5 filed 2023-02-01
Quote: “the completion of an equity capital raise with aggregate net proceeds of at least $33.5 million by March 15, 2023”
confirms TeraWulf 10-K filed 2023-03-31
Quote: “The Company satisfied the Qualified Equity Capital Raise condition on March 9, 2023.”