We recently published 10 Stocks Boasting 10-42% Gains. TeraWulf Inc. (NASDAQ:WULF) is one of the best-performing stocks on Tuesday.
TeraWulf rallied for a second day on Tuesday, jumping 10.37 percent to close at $13.94 apiece as investors placed bets on the company’s stronger capital structure following the mandatory conversion of its convertible preferred stocks into common shares.
In a statement, TeraWulf Inc. (NASDAQ:WULF) said that it has exercised its right to convert all outstanding Series A convertible preferred shares into common stock with a par value of $0.001 apiece.
Under the terms, the conversion can only be exercised once the company exceeds 130 percent of the $10 conversion price, or $13, on at least five trading days from November 4 to 24, 2025.
TeraWulf Inc. (NASDAQ:WULF) said each share of convertible preferred shares will automatically convert to 141.9483 shares on December 9, 2025.
“Today’s announcement represents a key milestone on our journey to simplify TeraWulf’s capital structure going forward, supporting future growth while providing transparency to investors,” said TeraWulf Inc. (NASDAQ:WULF) Chief Finance Officer Patrick Fleury.
“The mandatory conversion of the Preferred Stock reinforces our financial discipline and enables a focus on growth going forward,” he noted.
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Disclosure: None. This article is originally published at Insider Monkey.
