Core Scientific Announces Agreement in Principle with Key Constituencies in its Chapter 11 Cases

Core Scientific Announces Agreement in Principle with Key Constituencies in its Chapter 11 Cases

Company, Ad Hoc Noteholder Group and Equity Committee reach agreement in principle with respect to the economic terms of a proposed plan of reorganization
Parties expect in the coming days to enter into a binding Restructuring Support Agreement consistent with the Restructuring Term Sheet and to finalize Debtors’ Third Amended Joint Chapter 11 Plan of Reorganization and related Disclosure Statement
Company expects to emerge from Chapter 11 by the end of the current calendar year

 

AUSTIN, Texas–(BUSINESS WIRE)–$CORZQ #bitcoin—Core Scientific, Inc. (OTC: CORZQ) (“Core Scientific” or “the Company”), a leader in high-performance blockchain computing data centers and software solutions, today announced the Company and certain of its affiliates (collectively, the “Debtors”) have reached an agreement in principle (the “Restructuring Term Sheet”) with the Ad Hoc Noteholder Group and the Equity Committee regarding the terms of a chapter 11 plan of reorganization. Th

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