TeraWulf Announces Mandatory Conversion Date for Series A Convertible Preferred Stock

Core Viewpoint - TeraWulf Inc. has announced the mandatory conversion of all outstanding shares of its Series A Convertible Preferred Stock into common stock, marking a significant step in simplifying its capital structure and supporting future growth [1][4]. Group 1: Conversion Details - The mandatory conversion will occur on December 9, 2025, with each share of Convertible Preferred Stock converting into 141.9483 shares of Common Stock [2]. - Holders of Convertible Preferred Stock can opt for early conversion before the Mandatory Conversion Date, but this will not include accrued dividends [3]. Group 2: Financial Implications - The conversion is expected to enhance financial discipline and focus on growth, as stated by TeraWulf's Chief Financial Officer [4]. - The conversion aligns with TeraWulf's strategy to operate next-generation data center infrastructure, primarily for HPC/AI workloads, and to leverage zero-carbon energy sources for Bitcoin mining [4].