Exit Facility credit facility
Company: Core Scientific
The claim, verbatim
Senior secured, first-lien term loan credit facility of $80 million total, comprising $20 million new money on Closing Date, $20 million new money thereafter, and $40 million cashless facility
Source (primary)
Core Scientific 8-K filed 2023-11-22 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “A senior secured, first-lien term loan credit facility (the 'Exit Facility') comprising (a) a 'new money' credit facility, pursuant to which term loans in an aggregate principal amount equal to (i) $20 million that shall be made available on the Closing Date, and (ii) $20 million that shall be made available from time to time after the Closing Date...and (b) 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”
How we checked this
Checked on September 18, 2026. The cited source supports every part of this claim.
The filing describes each of the three components with the stated amounts, and together they total $80 million.
Confirmed in the source:
- The Exit Facility is a senior secured, first-lien term loan credit facility
- It includes $20 million of new-money term loans made available on the Closing Date
- It includes $20 million of new-money term loans made available from time to time after the Closing Date
- It includes a $40 million cashless facility deemed incurred on the Closing Date
- The components sum to $80 million
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1839341/000119312523282336/d557673d8k.htm) in full (29,507 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Core Scientific 8-K filed 2023-11-22
Quote: “A senior secured, first-lien term loan credit facility (the 'Exit Facility') comprising (a) a 'new money' credit facility, pursuant to which term loans in an aggregate principal amount equal to (i) $20 million that shall be made available on the Closing Date, and (ii) $20 million that shall be made available from time to time after the Closing Date...and (b) 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”