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
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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”