Core Scientific terminates Restructuring Support Agreement with creditors effective Feb 9

Core Scientific, Inc./tx

Company terminated RSA with Consenting Creditors on Feb 9, 2023; no longer obligated to pursue plan.
Chapter 11 cases filed Dec 21, 2022; RSA had been executed Dec 22, 2022.
Notice of termination filed with Bankruptcy Court on Feb 10, 2023.
Creditors are no longer obligated to vote in favor of any plan of reorganization.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Core Scientific, Inc./tx terminated Restructuring Support Agreement with Consenting Creditors valued at RSA terminated; Debtors no longer obligated to pursue Plan (effective 2023-02-09).

Action: termination
Counterparty: Consenting Creditors
Value: RSA terminated; Debtors no longer obligated to pursue Plan
Effective: 2023-02-09

Exact text from the filing

On February 9, 2023, the Debtors delivered written notice to the Consenting Creditors (the “RSA Termination Notice”) notifying such parties that the Debtors exercised their right to terminate the RSA, effective February 9, 2023.

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Core Scientific, Inc./tx filing history →

Source: SEC EDGAR

accession 0001193125-23-034521

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