Exit Credit Facility - $80M aggregate
Company: Core Scientific
The claim, verbatim
Entered into Exit Credit Agreement consisting of $80 million first-lien credit facility comprising $40 million term loan and $40 million roll-up of existing convertible notes, bearing 9.0% annual interest, maturing January 23, 2027
Source (primary)
Core Scientific 8-K/A filed 2024-01-25 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “consisting of an $80 million first-lien credit facility with certain holders of the Company's April Convertible Notes and August Convertible Notes (in such capacity, the " Exit Lenders ") equal to (i) a $40 million term loan comprised of (x) a $20 million initial term loan and (y) a $20 million delayed-draw term loan and (ii) a $40 million roll-up of the outstanding balance of the April Convertible Notes and August Convertible Notes (the " Exit Facility "). The Exit Facility will mature on January 23, 2027. From the Effective Date, cash borrowings under the Exit Facility bear interest at 9.0% per annum”
How we checked this
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Additional evidence
confirms Core Scientific 8-K/A filed 2024-01-25
Quote: “consisting of an $80 million first-lien credit facility with certain holders of the Company's April Convertible Notes and August Convertible Notes (in such capacity, the " Exit Lenders ") equal to (i) a $40 million term loan comprised of (x) a $20 million initial term loan and (y) a $20 million delayed-draw term loan and (ii) a $40 million roll-up of the outstanding balance of the April Convertible Notes and August Convertible Notes (the " Exit Facility "). The Exit Facility will mature on January 23, 2027. From the Effective Date, cash borrowings under the Exit Facility bear interest at 9.0% per annum”