secwatch.observer — SEC 8-K summary
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Issuer:     Core Scientific, Inc./tx (CORZ)
CIK:        0001839341
Form:       8-K
Filed at:   2023-07-06T23:59:59+00:00
Accession:  0001193125-23-182498
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Core Scientific amends DIP credit agreement; reduces Excess Cash threshold, triggering $5M mandatory prepayment
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- First Amendment to DIP Credit Agreement dated July 4, 2023; reduces Excess Cash threshold to $40M plus $5M less prepetition claim payments.
- Anticipates $5.0M mandatory prepayment on or before July 10, 2023 due to threshold reduction.
- Amendment permits transfers or payments related to settlements of certain third-party claims.
- Obligors represent due authorization, no contravention of laws or Final DIP Order.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1839341/000119312523182498/0001193125-23-182498-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1839341/000119312523182498/d530352d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-182498

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer