Exit Facility cashless credit component
Company: Core Scientific
The claim, verbatim
The restructuring contemplates a $40 million cashless credit facility whereby the reorganized Company shall incur term loans on the Closing Date reflecting Allowed Convertible Notes Secured Claims.
Source (primary)
Core Scientific SC 13D filed 2023-11-27 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “a "cashless" credit facility, pursuant to which the reorganized Company shall be deemed to incur, on the Closing Date, term loans in an aggregate principal amount equal to $40 million, which reflects the amount of Allowed Convertible Notes Secured Claims that will become obligations under the Exit Facility”
How we checked this
Checked on September 18, 2026. The cited source supports every part of this claim.
The filing states the cashless component is $40 million, deemed incurred on the Closing Date, and reflects Allowed Convertible Notes Secured Claims.
Confirmed in the source:
- The restructuring contemplates a cashless credit facility as part of the Exit Facility
- Under it, the reorganized Company is deemed to incur $40 million of term loans on the Closing Date
- The $40 million reflects Allowed Convertible Notes Secured Claims that become Exit Facility obligations
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1839341/000119312523283366/d75665dsc13d.htm) in full (30,890 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Core Scientific SC 13D filed 2023-11-27
Quote: “a "cashless" credit facility, pursuant to which the reorganized Company shall be deemed to incur, on the Closing Date, term loans in an aggregate principal amount equal to $40 million, which reflects the amount of Allowed Convertible Notes Secured Claims that will become obligations under the Exit Facility”