Revolve Capital LLC - Mar 16, 2022 Form 4 Insider Report for TERAWULF INC. (WULF)

Role
10%+ Owner
Signature
/s/ Lauren O'Rourke, President
Stock symbol
WULF
Transactions as of
Mar 16, 2022
Transactions value $
$2,500,000
Form type
4
Date filed
3/18/2022, 05:12 PM
Previous filing
Dec 22, 2021
Next filing
Apr 13, 2022

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 Series A Convertible Preferred Stock Purchase $2.5M +2.5K $1,000.00* 2.5K Mar 16, 2022 Common Stock 250K Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each holder of shares of the Issuer's Series A Convertible Preferred Stock (the "Preferred Stock") has the right, at its option and at any time, to convert all or a portion of the shares of Preferred Stock that it holds into a number of shares of Common Stock equal to the quotient obtained by dividing (i) the sum of (x) the Liquidation Preference (as defined in the Certificate of Designations governing the Preferred Stock (the "Certificate"), initially $1,000) and (y) an amount equal to accumulated and unpaid Regular Dividends (as defined in the Certificate) on such share of Preferred Stock, by (ii) the Conversion Price (as defined in the Certificate) in effect at such time, subject to customary antidilution adjustments, including in the event of any stock split, stock dividend, recapitalization or similar events. As of the date of the event requiring the filing of this report, 2,500 shares of Preferred Stock reported on this report are convertible into 250,000 shares of Common Stock.
F2 The Preferred Stock does not expire.