Contingent Value Rights - Year 2 payment obligation
Company: Core Scientific
The claim, verbatim
CVR holders receive at second testing date cash or stock (at company discretion) equal to pro rata share of lesser of $43,333,333 or remaining amount from $260 million pool minus Year 1 payment
Source (primary)
Core Scientific 8-K/A filed 2024-01-25 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “at the second testing date, cash or New Common Stock (or a combination of cash and New Common Stock), in the Company's sole discretion, equal to such Payee's pro rata share (the " Year 2 Contingent Payment Obligation ") of the lesser of (a) $43,333,333.33 and (b) the difference between (1) $260,000,000 minus the First Anniversary Payment Amount and (2) the fair market value of the Corresponding New Common Stock”
How we checked this
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Additional evidence
confirms Core Scientific 8-K/A filed 2024-01-25
Quote: “at the second testing date, cash or New Common Stock (or a combination of cash and New Common Stock), in the Company's sole discretion, equal to such Payee's pro rata share (the " Year 2 Contingent Payment Obligation ") of the lesser of (a) $43,333,333.33 and (b) the difference between (1) $260,000,000 minus the First Anniversary Payment Amount and (2) the fair market value of the Corresponding New Common Stock”