Tranche 1 warrant proceeds used to de-lever
Company: Core Scientific
The claim, verbatim
Exercise of Tranche 1 warrants at $6.81 would yield total proceeds of $670 million, 50% of which is required to pay down the exit facility and new secured notes.
Source (primary)
core-scientific 8-K exhibit (finalcorzfy2023earningsp.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-11-09)Live source ↗
Quote: “Total proceeds of $670M, a portion of which to be used to pay down debt”
How we checked this
Checked on November 10, 2026. The cited source supports every part of this claim.
The de-levering slide lists Tranche 1 warrants at $6.81 with total proceeds of $670 million, and a footnote states that 50% of proceeds are required to pay down the exit facility and new secured notes.
Confirmed in the source:
- The Tranche 1 warrant exercise price is $6.81
- Exercise of the Tranche 1 warrants would yield total proceeds of $670 million
- 50% of Tranche 1 proceeds are required to pay down the exit facility and new secured notes
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/1839341/000162828024010544/finalcorzfy2023earningsp.htm) in full (18,367 characters, retrieved November 9, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms core-scientific 8-K exhibit (finalcorzfy2023earningsp.htm)
Quote: “Total proceeds of $670M, a portion of which to be used to pay down debt”