TeraWulf Increases Senior Secured Credit Facility to $400 Million
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Key Takeaways
- TeraWulf increased its senior secured revolving credit facility from $250 million to approximately $400 million.
- The company added an uncommitted accordion feature for an additional $150 million in potential liquidity.
- The amendment eliminated a previous $150 million sublimit on the issuance of letters of credit.
- Morgan Stanley Senior Funding, Inc. continues to serve as the administrative and collateral agent for the facility.
TeraWulf (NASDAQ: WULF) Inc. disclosed in a regulatory filing on Friday that it has expanded its senior secured revolving credit facility through an amendment to its existing agreement with Morgan Stanley Senior Funding, Inc. serving as administrative and collateral agent. The amendment, effective October 23, 2026, raises the company's borrowing capacity by $150 million, bringing the total commitment to approximately $400 million.
The updated agreement introduces an uncommitted "accordion" feature, which allows TeraWulf to request a further increase of approximately $150 million in aggregate commitments. This potential expansion is contingent upon the company securing additional lender commitments and meeting specific conditions outlined in the agreement.
Beyond the increased credit limit, the amendment eliminates a $150 million sublimit that previously applied to the issuance of letters of credit. The filing also noted that the agreement now provides for the release of certain collateral from the agent's security interest, provided that specific conditions set forth in the amendment are met.
This capital expansion follows a broader trend of liquidity adjustments among digital infrastructure and bitcoin mining firms.
