Contingent Value Rights
Company: Core Scientific
The claim, verbatim
51,783,625 Contingent Value Rights issued with contingent payment obligations of lesser of $43.33 million or calculated gap between $260 million valuation target and fair market value of underlying common stock, with three separate payment obligations based on testing dates
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 51,783,625 contingent value rights (the " CVRs ")... The CVRs require the Company to make payments to each Payee, of: (i) at the first testing date, cash equal to such Payee's pro rata share... of the lesser of (a) $43,333,333.33 and (b) the difference between (1) $260,000,000 and (2) the fair market value of the Corresponding New Common Stock”
How we checked this
Checked on September 18, 2026. The cited source supports every part of this claim.
The CVR section describes 51,783,625 CVRs with three testing-date payments, each capped at $43.33 million and measured against a $260 million value, reduced by earlier payments in later years.
Confirmed in the source:
- 51,783,625 contingent value rights issued
- each payment is the lesser of $43,333,333.33 or the shortfall between $260,000,000 (reduced by prior payments) and the fair market value of the Corresponding New Common Stock
- three separate payment obligations at three testing dates
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 51,783,625 contingent value rights (the " CVRs ")... The CVRs require the Company to make payments to each Payee, of: (i) at the first testing date, cash equal to such Payee's pro rata share... of the lesser of (a) $43,333,333.33 and (b) the difference between (1) $260,000,000 and (2) the fair market value of the Corresponding New Common Stock”