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 Points - cbdMD, Inc. announced the automatic conversion of its 8% Series A Cumulative Convertible Preferred Stock into Common Stock, effective May 6, 2025, with each share of Preferred Stock converting into thirteen shares of Common Stock [2][3] - The company will also implement a one-for-eight reverse stock split of its Common Stock, effective immediately after the automatic conversion on May 6, 2025 [4][5] - Following these actions, the number of issued and outstanding shares of Common Stock will reduce from approximately 71.26 million to about 8.91 million shares [5][7] Company Actions - The automatic conversion and reverse stock split were approved by shareholders at the annual meeting on April 10, 2025, and are aimed at improving the company's capital structure [3][4] - The reverse stock split will not affect shareholders' percentage ownership or voting power, except for minor adjustments due to fractional shares [5] - The company aims to eliminate approximately $6.7 million in accrued dividend liabilities and $4.0 million in perpetual annual obligations through these actions, enhancing its balance sheet [7] Strategic Outlook - The CEO expressed optimism about the company's recent developments, including strong sales results and new distribution deals, indicating a turning point for cbdMD [6] - The company believes that these structural changes will provide strategic flexibility for future mergers and acquisitions, positioning it for growth opportunities [7]