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
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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”