secwatch.observer — SEC 8-K summary
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Issuer:     Core Scientific, Inc./tx (CORZ)
CIK:        0001839341
Form:       8-K
Filed at:   2023-02-07T23:59:59+00:00
Accession:  0001193125-23-027060
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Core Scientific enters up to $70M DIP facility from B. Riley; files Dec monthly reports in bankruptcy
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- Commitment Letter for up to $70M super-priority senior secured DIP term loan from B. Riley Commercial Capital.
- $35M available after interim order; 10% PIK interest; 3.5% commitment fee; 5% exit fee.
- Existing $57.3M DIP facility (with $37.5M drawn) refinanced; maturity Dec 21, 2023, extendable to Mar 21, 2024.
- Dec 2022 MOR: parent debtor cash $35.7M, total assets $2.29B, liabilities $694M, net profit $92K (unaudited).
- Unsecured creditors committee appointed Jan 9; Debtors operate as debtors-in-possession.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1839341/000119312523027060/0001193125-23-027060-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1839341/000119312523027060/d459491d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-027060

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