secwatch.observer — SEC 8-K summary
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Issuer:     Core Scientific, Inc./tx (CORZ)
CIK:        0001839341
Form:       8-K
Filed at:   2022-12-27T23:59:59+00:00
Accession:  0001193125-22-312655
Event type: other_material
Sentiment:  negative
Materiality: 0.90
Item codes: 1.01, 2.03, 1.03, 3.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Core Scientific files Ch. 11; Nasdaq to delist CORZ starting Jan 3; $75M DIP facility agreed
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- Filed voluntary Chapter 11 petitions on Dec 21, 2022 in Bankruptcy Court for Southern District of Texas.
- Entered DIP Credit Agreement for up to $75M new money facility; initial $37.5M available after interim court approval.
- Restructuring Support Agreement with convertible-note holders equitizes notes for 97% of new common shares.
- Nasdaq delisting notice received Dec 22; trading suspended Jan 3, 2023; company evaluating appeal options.
- DIP facility matures June 21, 2023; exit milestones include plan confirmation by day 150 and effective date by day 165.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1839341/000119312522312655/0001193125-22-312655-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1839341/000119312522312655/d426367d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-312655

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