Estimated net proceeds from convertible notes offering
Company: TeraWulf
What the later record shows
Delivered; the record does not say when
The option was exercised in full, and the 10-K reports net proceeds of about $975.3 million, in line with the $975.2 million full-exercise estimate. No passage dates when the base proceeds were received.
“On August 21, 2025, the Initial Purchasers elected to fully exercise such option, and on August 22, 2025, the Company issued $150 million aggregate principal amount of Additional Notes.”
2025-08-21 · TeraWulf 8-K filed 2025-08-22 View cached copy (2026-08-31)Live source ↗
“The 2031 Convertible Notes were issued at par, and net proceeds totaled approximately $975.3 million after deducting $24.7 million in purchasers’ commissions and offering expenses.”
2026-02-27 · View 10-K PDF View cached copy (2026-09-01)Live source ↗Archive.org ↗
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 estimates net proceeds of approximately $828.7 million, or $975.2 million if initial purchasers exercise their option in full
Source (primary)
TeraWulf 8-K filed 2025-08-19 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “The Company estimates that the net proceeds of the offering will be approximately $828.7 million (or approximately $975.2 million if the initial purchasers exercise in full their option to purchase additional notes)”
How we checked this
Checked on October 10, 2026. The cited source supports every part of this claim.
The 8-K states both net proceeds estimates, $828.7 million base and $975.2 million with full exercise of the initial purchasers' option.
Confirmed in the source:
- TeraWulf estimates net proceeds of the convertible notes offering at approximately $828.7 million
- Net proceeds would be approximately $975.2 million if the initial purchasers exercise their option to purchase additional notes in full
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1083301/000110465925079960/tm2523651d4_8k.htm) in full (6,163 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms TeraWulf 8-K filed 2025-08-19
Quote: “The Company estimates that the net proceeds of the offering will be approximately $828.7 million (or approximately $975.2 million if the initial purchasers exercise in full their option to purchase additional notes)”
confirms TeraWulf 8-K filed 2025-08-22
Quote: “On August 21, 2025, the Initial Purchasers elected to fully exercise such option, and on August 22, 2025, the Company issued $150 million aggregate principal amount of Additional Notes.”
confirms View 10-K PDF
Quote: “The 2031 Convertible Notes were issued at par, and net proceeds totaled approximately $975.3 million after deducting $24.7 million in purchasers’ commissions and offering expenses.”