8-K - TeraWulf Inc. | StockGist

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TeraWulf Inc. entered into a Delayed-Draw Bridge Credit Agreement on March 13, 2026, providing a 364-day $500 million delayed draw senior secured bridge facility to finance construction and development of its data center in Hawesville, KY. The Company furnished unaudited consolidating schedules as of and for the year ended December 31, 2025, pursuant to its Notes indenture.

Key Takeaways

1Entered Delayed-Draw Bridge Credit Agreement on March 13, 2026, among Raylan Finance LLC, Raylan Data LLC, Justified DataPower LLC, Morgan Stanley Senior Funding, Inc., and lenders

2$500 million 364-day delayed draw senior secured bridge facility

3Interest at Term SOFR (floor 0%) + 2.75% or base rate + 1.75% at borrower's option

4Minimum liquidity covenant of $100 million including Facility proceeds

5Customary covenants limiting liens, indebtedness, investments, and requiring financial reporting

6Furnished Exhibit 99.1 consolidating schedules for WULF Compute LLC Notes compliance as of/for year ended December 31, 2025

Current Report Details

Event Type

Material Agreement+3 More

Disclosure

Mandatory

Variant

8-K

Items Reported

1.01

. Entry into a Material Definitive Agreement. On March 13, 2026, TeraWulf Inc. (“TeraWulf” or the “Company”) entered into that certain Delayed-Draw Bridge Credi

Material Agreement

$500.0M$100.0M

2.03

. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth in Item 1.01 of t

Financing

7.01

, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the

Regulation Fd

9.01

. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Consolidating schedules as of and for the year ended December 31, 2025. 104 Cove

Exhibits Only

Source Document

Transaction Details

Material Agreement

Agreement: Delayed-Draw Bridge Credit Agreement
Parties: Raylan Finance LLC (Holdings), Raylan Data LLC (Borrower), Justified DataPower LLC (Real Estate Guarantor), Morgan Stanley Senior Funding, Inc. (administrative agent and collateral agent), each lender party thereto

•364-day $500 million delayed draw senior secured bridge facility
•Proceeds to finance construction and development of data center facility in Hawesville, KY
•Interest: Term SOFR (no less than zero) + 2.75% or base rate + 1.75%
•Customary affirmative covenants including financial reporting and compliance certificates
•Customary negative covenants limiting liens, asset dispositions, indebtedness, investments, restricted payments, mergers
•Minimum liquidity covenant of $100 million
•Customary events of default

Debt / Financing

Instrument: Delayed-Draw Bridge Credit Agreement (364-day delayed draw senior secured bridge facility)
Principal: $500 million
Rate: Term SOFR (floor 0%) + 2.75% or (federal funds rate + 0.50%, prime rate, one-month Term SOFR, or 1.00%) + 1.75%
Use of Proceeds: Construction and development of the Company’s data center facility in Hawesville, KY

Exhibits (2)

8-K

FORM 8-K

99.1

EXHIBIT 99.1