Replacement DIP Facility from B. Riley Commercial Capital
Company: Core Scientific
The claim, verbatim
Senior Secured Super-Priority Replacement Debtor-in-Possession Loan Facility of up to $70 million ($35 million available February 2023, $35 million available March 2023) with 10% interest payable in kind, maturing December 22, 2023 (extendable to March 22, 2024)
Source (primary)
Core Scientific 10-K filed 2023-04-04 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “The Replacement DIP Facility, among other things, provides for a non-amortizing super-priority senior secured term loan facility in an aggregate principal amount not to exceed $70 million. Under the Replacement DIP Facility, (i) $35 million was made available following Bankruptcy Court approval of the Interim DIP Order and (ii) $35 million was made available following Bankruptcy Court approval of the Final DIP Order. Loans under the Replacement DIP Facility will bear interest at a rate of 10%, which will be payable in kind. The maturity date of the Replacement DIP Credit Agreement is December 22, 2023, which can be extended, under certain conditions, by an additional three months to March 22, 2024.”
How we checked this
This claim has not yet been checked assertion-by-assertion against its source. It carries a cited source and quote, but the deeper check has not run. When it does, the result appears here whatever it says.
Additional evidence
confirms Core Scientific 10-K filed 2023-04-04
Quote: “The Replacement DIP Facility, among other things, provides for a non-amortizing super-priority senior secured term loan facility in an aggregate principal amount not to exceed $70 million. Under the Replacement DIP Facility, (i) $35 million was made available following Bankruptcy Court approval of the Interim DIP Order and (ii) $35 million was made available following Bankruptcy Court approval of the Final DIP Order. Loans under the Replacement DIP Facility will bear interest at a rate of 10%, which will be payable in kind. The maturity date of the Replacement DIP Credit Agreement is December 22, 2023, which can be extended, under certain conditions, by an additional three months to March 22, 2024.”