TeraWulf Retires Series A Preferred Stock Amid Price Surge

TeraWulf has announced the mandatory conversion of its Series A preferred stock into common shares, with each preferred share converting into 141.9483 common shares. The conversion follows the company's shares trading above 130% of the conversion price for at least five trading days. The move simplifies the company's capital structure, and holders who choose not to convert early will receive common stock automatically without taking action.