Secured Convertible Notes
Company: Core Scientific
The claim, verbatim
$260 million aggregate principal amount of secured convertible notes due January 23, 2029, bearing interest at company's option of either 10% cash per annum or 6% cash and 6% paid-in-kind per annum payable quarterly beginning June 15, 2024, convertible at initial rate of 171 shares per $1,000 principal amount
Source (primary)
Core Scientific 8-K filed 2024-01-23 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “the Company issued $260.0 million aggregate principal amount of secured convertible notes due 2029... The Secured Convertible Notes bear interest payable quarterly on March 15, June 15, September 15 and December 15, beginning on June 15, 2024, at the Company's option, (i) in cash at a rate of 10% per annum, or (ii) in cash at a rate of 6% of per annum and in stock at a rate of 6% of per annum... at an initial conversion rate of 171 shares of New Common Stock per $1,000 principal amount of notes (equal to a conversion price of $5.83 per share)”
How we checked this
Checked on September 18, 2026. The cited source supports every part of this claim.
The filing sets out the $260 million principal, the January 23, 2029 maturity, both interest options payable quarterly from June 15, 2024, and the 171-share conversion rate.
Confirmed in the source:
- $260.0 million aggregate principal amount of secured convertible notes
- maturity date January 23, 2029
- interest at the Company's option of 10% cash or 6% cash plus 6% in stock (Cash/PIK Interest)
- interest payable quarterly beginning June 15, 2024
- initial conversion rate of 171 shares per $1,000 principal amount
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1839341/000119312524013078/d661343d8k.htm) in full (63,484 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Core Scientific 8-K filed 2024-01-23
Quote: “the Company issued $260.0 million aggregate principal amount of secured convertible notes due 2029... The Secured Convertible Notes bear interest payable quarterly on March 15, June 15, September 15 and December 15, beginning on June 15, 2024, at the Company's option, (i) in cash at a rate of 10% per annum, or (ii) in cash at a rate of 6% of per annum and in stock at a rate of 6% of per annum... at an initial conversion rate of 171 shares of New Common Stock per $1,000 principal amount of notes (equal to a conversion price of $5.83 per share)”