Original DIP Facility commitment from Ad Hoc Noteholder Group (terminated)
Company: Core Scientific
The claim, verbatim
Ad Hoc Noteholder Group representing more than 70% of convertible note holders committed to provide debtor-in-possession facility of more than $57 million with additional support for up to $18 million in syndicated new money loans; subsequently terminated by Company
Source (primary)
Core Scientific 10-K filed 2023-04-04 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “the Ad Hoc Noteholder Group agreed to provide commitments for a debtor-in-possession facility (the 'Original DIP Facility') of more than $57 million and agreed to support the syndication of up to an additional $18 million in new money DIP (defined below) facility loans to all holders of convertible notes. The Restructuring Support Agreement was terminated by the Company pursuant to a 'fiduciary out'”
How we checked this
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Additional evidence
confirms Core Scientific 10-K filed 2023-04-04
Quote: “the Ad Hoc Noteholder Group agreed to provide commitments for a debtor-in-possession facility (the 'Original DIP Facility') of more than $57 million and agreed to support the syndication of up to an additional $18 million in new money DIP (defined below) facility loans to all holders of convertible notes. The Restructuring Support Agreement was terminated by the Company pursuant to a 'fiduciary out'”