Yorkville Convertible Promissory Note Advance
Company: TeraWulf
What the later record shows
Not a promise: a reported event · happened June 2, 2022
The claim reports an advance already received on June 2, 2022, and is not a forward commitment. The 2024 10-K confirms the $15.0 million Yorkville note was issued in June 2022 with an original maturity of November 25, 2022.
“In June 2022, the Company issued a convertible promissory note with a principal amount of $ 15.0 million (the “Promissory Note”) to YA II PN, Ltd.”
2025-03-02 · TeraWulf 10-K filed 2025-03-03 View cached copy (2026-08-31)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 received $15 million convertible promissory note with maturity date of November 25, 2022, 4% annual interest, and conversion price of $3.75 per share
Source (primary)
TeraWulf 424B5 filed 2022-06-13 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “on June 2, 2022, the Company received an advance from YA in the form of a convertible promissory note in an aggregate principal amount of $15 million...The Advance has a maturity date of November 25, 2022 (the "Maturity Date") and accrues annual interest at a rate of 4%. The Advance is convertible into shares of Common Stock at YA's option at a conversion price of $3.75”
How we checked this
Checked on October 11, 2026. The cited source supports every part of this claim.
The Recent Developments section describes the $15 million convertible note from YA with a November 25, 2022 maturity, 4% interest and a $3.75 conversion price.
Confirmed in the source:
- The Company received an advance from YA in the form of a convertible promissory note
- The note has an aggregate principal amount of $15 million
- The note matures on November 25, 2022
- The note accrues annual interest at 4%
- The note is convertible into Common Stock at a conversion price of $3.75
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1083301/000108330122000008/tmb-20220613x424b5.htm) in full (236,157 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms TeraWulf 424B5 filed 2022-06-13
Quote: “on June 2, 2022, the Company received an advance from YA in the form of a convertible promissory note in an aggregate principal amount of $15 million...The Advance has a maturity date of November 25, 2022 (the "Maturity Date") and accrues annual interest at a rate of 4%. The Advance is convertible into shares of Common Stock at YA's option at a conversion price of $3.75”