Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Core Scientific, Inc. > News item |
Core Scientific clarifies exit fee payment on DIP facility
Chicago, Dec. 29 – Core Scientific, Inc. filed a modified debtor-in-possession credit agreement with clarifications and non-material corrections, according to a filing with the U.S. Bankruptcy Court for the Southern District of Texas.
The most significant change related to the 3% exit fee, or the termination payment related to the roll-up loans.
As previously reported, the payment would be paid in kind. However, in the event of an acceptable exit roll transaction, the fee will be paid in cash.
Core Scientific was granted access to $37.5 million of its DIP facility at a hearing on Dec. 23.
Core Scientific is an Austin, Tex.-based bitcoin mining company. The company filed bankruptcy on Dec. 21 under Chapter 11 case number 22-90341.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.