TeraWulf CEO Paul Prager entered a prepaid variable share forward contract involving up to 3 million shares. The deal carries an approximate value of $52.35 million. These shares back a property lease agreement between TeraWulf and Prager’s private landlord business.
The contract features a 14-month duration. The transaction is dated September 22, 2026. Prager receives an upfront cash payment while retaining voting rights for the pledged shares. He maintains the discretion to settle the contract in either cash or stock.
UBS initiated coverage on TeraWulf this week with a Buy rating. The firm set a price target of $24 per share. Analysts cited the company’s growth potential within the AI data center sector.