Core Scientific warns cash may deplete by end of 2022; Bitcoin holdings drop to 24 from 1,051

Core Scientific, Inc./tx

Company will not make payments due late Oct/early Nov on equipment financings and bridge promissory notes; creditors may accelerate debt.
Cash and Bitcoin holdings fell to $26.6M and 24 BTC on Oct 26 from $29.5M and 1,051 BTC on Sep 30.
Engaged Weil Gotshal and PJT Partners to advise on strategic alternatives, including potential bankruptcy.
Substantial doubt exists about ability to continue as going concern; common stock could suffer total loss.
Appointed Neal P. Goldman to board; monthly fee of $35,000.

item 5.02 item 8.01 item 9.01

Executive movements

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Appointed

Neal P. Goldman

Director

CORZ · Core Scientific, Inc./tx

Effective: 2022-10-26
Filed: October 27, 2022, 7:59 PM ET

On October 26, 2022, Core Scientific, Inc. (“Core Scientific,” “we,” “our,” “us” or the “Company”) announced the appointment of Neal P. Goldman to its board of directors

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Neal P. Goldman was appointed as Director at Core Scientific, Inc./tx.

Action: appointed
Role: Director

Exact text from the filing

On October 26, 2022, Core Scientific, Inc. (“Core Scientific,” “we,” “our,” “us” or the “Company”) announced the appointment of Neal P. Goldman to its board of directors

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Core Scientific, Inc./tx filing history →

Source: SEC EDGAR

accession 0001193125-22-270236

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