Core Points - TeraWulf has set December 9 as the mandatory conversion date for all outstanding Series A Convertible Preferred Stock after its shares traded above 130% of the conversion price [1] - The conversion is triggered as TeraWulf's common stock exceeded the $10 threshold for at least five trading days between November 4 and November 24 [2] - Each preferred share will convert into 141.9483 common shares, and early conversions will not include accrued dividends [2] - The conversion aims to simplify the company's capital structure, according to TeraWulf's CFO Patrick Fleury [2] Financial Performance - TeraWulf reported third-quarter revenue of $50.6 million, with $43.38 million from bitcoin mining and $7.2 million from AI infrastructure services [3] Capital Raising Initiatives - On October 29, TeraWulf proposed a $500 million offering of convertible senior notes due 2032, with an option for initial purchasers to buy an additional $75 million of notes [4] - The notes will be senior unsecured obligations and are part of TeraWulf's plan to fund construction at its data center campus in Abernathy, Texas [4] Strategic Partnerships - TeraWulf announced a $9.5 billion extension to its partnership with AI cloud platform Fluidstack, forming a joint venture to build 168 MW of critical IT load at the Abernathy site under a 25-year hosting agreement [5] - This contract represents a long-term expansion of TeraWulf's existing relationship with the Google-backed platform [5] Conversion Process - Holders who choose not to convert early will automatically receive common stock without taking action [6]

Core Viewpoint - Abacus Global Management, Inc. has initiated an exchange offer and consent solicitation to simplify its capital structure and mitigate the potential dilutive impact of outstanding warrants [1][2]. Group 1: Exchange Offer Details - The company is offering 0.23 shares of common stock for each warrant tendered, with a total of up to 4,743,381 shares available for exchange [2]. - The offering period will last until July 29, 2025, with the possibility of extension [2]. - Holders can withdraw their tendered warrants at any time before the expiration date [2]. Group 2: Consent Solicitation - The company is soliciting consents to amend the warrant agreement, allowing for an exchange ratio of 0.207 shares per warrant, which is 10% less than the current offer [3]. - Approximately 25% of public warrants and 94% of private placement warrants have agreed to participate in the offer and consent to the amendment [3]. - An additional 25% consent from public warrant holders is needed for the amendment to be adopted [3]. Group 3: Current Capital Structure - As of June 30, 2025, there are 97,867,821 shares of common stock and 20,623,395 warrants outstanding [5]. - If all warrants are exchanged, the total shares outstanding would increase to 102,611,202, representing a 5% increase, with no warrants remaining [5]. Group 4: Regulatory Information - The offer and consent solicitation are conducted under a prospectus and Schedule TO filed with the SEC [4]. - D.F. King & Co., Inc. is the information agent, while Continental Stock Transfer & Trust Company serves as the exchange agent [6].