Contingent Value Rights - Year 3 payment obligation
Company: Core Scientific
The claim, verbatim
CVR holders receive at third 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 and Year 2 payments
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 third 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 3 Contingent Payment Obligation ") of the lesser of (a) $43,333,333.33 and (b) the difference between (1) $260,000,000 minus the sum of the First Anniversary Payment Amount and the Second 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 third 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 3 Contingent Payment Obligation ") of the lesser of (a) $43,333,333.33 and (b) the difference between (1) $260,000,000 minus the sum of the First Anniversary Payment Amount and the Second Anniversary Payment Amount and (2) the fair market value of the Corresponding New Common Stock”