TeraWulf retires Series A preferred stock following price condition

Bitcoin miner-turned-AI factory TeraWulf (Nasdaq: WULF) has set Dec. 9 as the mandatory conversion date for all outstanding Series A Convertible Preferred Stock after its shares traded above 130% of the conversion price, the company announced on Tuesday. TeraWulf called the conversion after its common stock exceeded the $10 threshold for at least five trading days between Nov. 4 and Nov. 24, as outlined in its Certificate of Designations filed in 2022. Each preferred share will convert into 141.9483 commo ...