Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Core Scientific, Inc./tx incurred credit facility of an aggregate principal amount not to exceed $70 million with B. Riley Commercial Capital, LLC at 10% which will be payable in kind maturing December 22, 2023.
- Instrument
- credit facility
- Principal
- an aggregate principal amount not to exceed $70 million
- Counterparty
- B. Riley Commercial Capital, LLC
- Rate
- 10% which will be payable in kind
- Maturity
- December 22, 2023
- Event
- incurrence
Exact text from the filing
The Replacement DIP Facility, among other things, provides for a non-amortizing super-priority senior secured term loan facility in an aggregate principal amount not to exceed $70 million.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Core Scientific, Inc./tx entered into Senior Secured Super-Priority Replacement Debtor-in-Possession Loan and Security Agreement with B. Riley Commercial Capital, LLC valued at not to exceed $70 million (effective 2023-02-27).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- B. Riley Commercial Capital, LLC
- Value
- not to exceed $70 million
- Effective
- 2023-02-27
Exact text from the filing
On February 27, 2023, the Debtors entered into a Senior Secured Super-Priority Replacement Debtor-in-Possession Loan and Security Agreement governing the Replacement DIP Facility (the “Replacement DIP Credit Agreement”), with B. Riley Commercial Capital, LLC, as administrative agent (the “Administrative Agent”), and the lenders from time to time party thereto (collectively, the “Replacement DIP Lenders”).
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