secwatch.observer — SEC 8-K summary
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Issuer:     Core Scientific, Inc./tx (CORZ)
CIK:        0001839341
Form:       8-K
Filed at:   2024-01-23T23:59:59+00:00
Accession:  0001193125-24-013078
Event type: other_material
Sentiment:  positive
Materiality: 1.00
Item codes: 1.01, 1.02, 2.03, 3.02, 8.01, 3.03, 5.01, 5.02, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Core Scientific emerges from Chapter 11; new common stock and warrants listed on Nasdaq
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- On Jan 23, 2024, Core Scientific's Chapter 11 plan became effective, old common stock cancelled, new common stock and warrants issued.
- Issued 184,998,580 shares of new common stock (CORZ) and 175,816,062 warrants (CORZW, CORZZ) under the plan.
- Entered $80M exit credit facility ($40M term loan + $40M roll-up), $260M secured convertible notes (10% cash or 6% cash+6% stock), and $150M senior secured notes (12.5%).
- Nasdaq approved listing of new common and warrants effective Jan 24, 2024; warrants expire 2027 (Tranche 1 at $6.81) and 2029 (Tranche 2 at $0.01 after TEV trigger).
- Contingent value rights (CVRs) issued to noteholders: up to $43.3M each of first three anniversaries if new common stock value below $260M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1839341/000119312524013078/0001193125-24-013078-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1839341/000119312524013078/d661343d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-013078

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