← Terawulf · FinancingEdit
Amended senior secured revolving credit facility
Oct 23, 2026 · ClosedTerms of issuance
Instrument
Revolver
Principal
$400.0M
Net proceeds
Drawn (of commitment)
not recorded
Issue date
Oct 23, 2026
Maturity
Seniority
senior secured
Conversion ratio
n/a
Settlement
n/a
Economic analysis
Effective annual cost
n/acalculated: coupon + capped-call cost amortized over the note's life — needs coupon, maturity, and (if hedged) capped-call cost
Interest savings vs. plain debt
n/anot shown — would require an assumed comparable straight-debt rate, which we do not fabricate
Implied option value / volatility
n/anot shown — would require an assumed volatility input, which we do not fabricate
Breakeven
n/anot shown — would require assumed reinvestment/discount-rate assumptions, which we do not fabricate
Context
Shares outstanding (as of issue date)
498,968,677
Stock price / market cap (as of issue date)
$11.3 · $5.64 mkt cap
Use of proceeds
Other financing outstanding (excl. this instrument)
2.75% Convertible Senior Notes due 2030 ($500.0M), 1.00% Convertible Senior Notes due 2031 ($1.00B), 7.750% Senior Secured Notes due 2030 (WULF Compute LLC) ($3.20B), 0.00% Convertible Senior Notes due 2032 ($1.02B), 7.250% Senior Secured Notes due 2030 — Abernathy JV (Flash Compute LLC) ($1.30B), 364-day $500 million delayed-draw senior secured bridge facility ($500.0M), Public offering of 54,510,000 common shares at $19.00 per share (including 7,110,000 option shares), Revolving Credit Facility ($250.0M)
— of which existing debt
$7.78B
Existing cash
n/anot tracked in the system yet
Anti-dilution adjustment terms
n/a
Related acquisition
none
Related deal
none
Related site
none
Sources
ProposedTeraWulf expands Muskie contracted power to 1 GW
Oct 5, 2026ClosedTeraWulf upsizes revolving credit facility to $400 million
Oct 23, 2026