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-0.00129792071359514 -0.00216900844084013 -0.00287458949990849 0.00349306178625255 0.040078746330543 0.0257057988310002 0.0296256936036028 0.0130750267859476
Stock impact report

TeraWulf and Fluidstack joint venture plans $1.275B secured note offering [Yahoo! Finance]

TeraWulf Inc. (WULF) 
Company Research Source: Yahoo! Finance
The duo are making the offering under Flash Compute, a subsidiary of a joint venture that TeraWulf (NASDAQ: WULF) and Fluidstack created earlier this year. TeraWulf holds a 50.1% interest through Big Country Wulf, and Fluidstack owns the remaining 49.9% through its subsidiary Fluidstack CS I. The notes are due in 2030 and include a 50% excess cash flow offer and a mandatory debt service schedule. According to the offering documents, the notes are secured by a building with a value of $1.36 billion, and the model assumes an 8.0% coupon paid on a semiannual basis. Mandatory amortization of the debt is scheduled to begin upon the commencement of the lease. The initial mandatory amortization is projected at $19 million in 2026, increasing to $85 million by 2031. The debt summary indicates that total debt will decrease from $1.275 billion to $700 million over the five year period. This reduction includes a cash collateral release of $75 million from a letter of credit. Google (NAS Show less Read more
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