Paul B. Prager - Mar 13, 2023 Form 4 Insider Report for TERAWULF INC. (WULF)

Role: Chief Executive Officer, Director, 10%+ Owner
Signature: /s/ Paul B. Prager
Stock symbol: WULF
Transactions as of: Mar 13, 2023
Transactions value $: $0
Form type: 4
Date filed: 3/13/2023, 07:52 PM
Previous filing: Mar 2, 2023
Next filing: Apr 11, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	WULF	Common stock, $0.001 par value per share	Options Exercise		+1.19M	+33.57%		4.74M	Mar 13, 2023	By Allin Wulf LLC	F1, F2
transaction	WULF	Common stock, $0.001 par value per share	Options Exercise		+12M	+84.96%		26.1M	Mar 13, 2023	By Stammtisch Investments LLC	F3, F4
holding	WULF	Common stock, $0.001 par value per share						8.51M	Mar 13, 2023	By Somerset Operating Company, LLC	F5
holding	WULF	Common stock, $0.001 par value per share						655K	Mar 13, 2023	By Lucky Liefern LLC	F6
holding	WULF	Common stock, $0.001 par value per share						375K	Mar 13, 2023	By Heorot Power Holdings LLC	F7

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	WULF	Warrants to Purchase Common Stock	Options Exercise		+1.19M			0	Mar 13, 2023	Common Stock	1.19M	$0.00	By Allin Wulf LLC	F1, F2
transaction	WULF	Warrants to Purchase Common Stock	Options Exercise		+12M			0	Mar 13, 2023	Common Stock	12M	$0.00	By Stammtisch Investments LLC	F3, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents shares of common stock, $0.001 par value per share, of the Issuer ("Common Stock") received upon exercise of 1,190,476 warrants to purchase 1,190,476 shares of Common Stock (?Allin Wulf Warrants?), at a price of $0.00001 per share for an aggregate purchase price of $11.91. The Allin Wulf Warrants were purchased on January 30, 2023 for an aggregate purchase price of $1,250,000.
F2	By Allin WULF LLC ("Allin"). The Reporting Person is the sole manager of Allin and, as a result, may be deemed to beneficially own the shares of the Common Stock held by Allin. The Reporting Person disclaims beneficial ownership of such shares of the Common Stock except to the extent of his pecuniary interest therein, and the inclusion of such shares of the Common Stock in this report shall not be deemed an admission of beneficial ownership of all of the reported shares of the Common Stock for purposes of Section 16 of the Exchange Act, or for any other purpose.
F3	Represents shares of Common Stock of the Issuer received upon exercise of 12,000,000 Warrants to purchase 12,000,000 shares of Common Stock (?Stammtisch Warrants?), at a price of $0.00001 per share for an aggregate purchase price of $120.00. Stammtisch Investments LLC (?Stammtisch?) acquired the Stammtisch Warrants on January 30, 2023, in a transaction pursuant to which Stammtisch exchanged a total of 12,000,000 shares of Common Stock for 12,000,000 Stammtisch Warrants in order to increase the number of shares available for issuance by the Issuer in its public offering of common stock at the time.
F4	By Stammtisch Investments LLC. The Reporting Person is the sole manager of Stammtisch and, as a result, may be deemed to beneficially own the shares of the Common Stock held by Stammtisch. The Reporting Person disclaims beneficial ownership of such shares of the Common Stock except to the extent of his pecuniary interest therein, and the inclusion of such shares of the Common Stock in this report shall not be deemed an admission of beneficial ownership of all of the reported shares of the Common Stock for purposes of Section 16 of the Exchange Act, or for any other purpose.
F5	By Somerset Operating Company, LLC ("Somerset"). The Reporting Person is the sole manager of Somerset and, as a result, may be deemed to beneficially own the shares of Common Stock held by Somerset. The Reporting Person disclaims beneficial ownership of such shares of Common Stock except to the extent of his pecuniary interest therein, and the inclusion of such shares of Common Stock in this report shall not be deemed an admission of beneficial ownership of all of the reported shares of Common Stock for purposes of Section 16 of the Exchange Act, or for any other purpose.
F6	By Lucky Liefern LLC. The Reporting Person is the sole manager of Lucky Liefern LLC and, as a result, may be deemed to beneficially own the shares of the Common Stock held by Lucky Liefern LLC. The Reporting Person disclaims beneficial ownership of such shares of the Common Stock except to the extent of his pecuniary interest therein, and the inclusion of such shares of the Common Stock in this report shall not be deemed an admission of beneficial ownership of all of the reported shares of the Common Stock for purposes of Section 16 of the Exchange Act, or for any other purpose.
F7	By Heorot Power Holdings LLC ("Heorot"). The Reporting Person is the sole manager of Heorot and, as a result, may be deemed to beneficially own the shares of the Common Stock held by Heorot. The Reporting Person disclaims beneficial ownership of such shares of the Common Stock except to the extent of his pecuniary interest therein, and the inclusion of such shares of the Common Stock in this report shall not be deemed an admission of beneficial ownership of all of the reported shares of the Common Stock for purposes of Section 16 of the Exchange Act, or for any other purpose.