Core Scientific, Inc. - CORZQ STOCK NEWS

Core Scientific, Inc. has announced that the United States Bankruptcy Court has confirmed the Company’s Chapter 11 plan of reorganization, allowing the company to emerge and re-list on Nasdaq by the end of January 2024. Shareholders will receive approximately 60% of the Company’s new equity, and the company's existing debt would be paid in full, reducing the debt balance by approximately $1 billion. This comes after the company completed an oversubscribed $55 million Equity Rights Offering and fully paid off its DIP financing.

Core Scientific, Inc. (OTC: CORZQ) announced CEO Adam Sullivan will present at the 26th Annual Needham Growth Conference. The virtual presentation will take place on January 19, 2024, at 1:30 P.M. Eastern Time. The event will be live-streamed with a replay available. Core Scientific is a leader in high-performance blockchain computing data centers and software solutions.

Core Scientific, Inc. (OTC: CORZQ) announced the successful completion of its $55 million Equity Rights Offering (ERO), which was oversubscribed, indicating strong shareholder confidence in the company's business and strategy. The offering's final results eliminate the need for previously arranged backstop funding, positioning the company for emergence and re-listing in January with enhanced liquidity and the ability to execute growth plans.

Core Scientific, a leader in high-performance blockchain computing data centers and software solutions, released production and operations updates for December and the full year 2023. The company operated approximately 209,000 owned and colocated bitcoin miners, producing 1,177 self-mined bitcoin and an estimated 449 bitcoin from colocated miners in December. For the full year 2023, Core Scientific produced a total of 13,762 self-mined bitcoin and an estimated 5,512 bitcoin from colocated miners. The company also delivered more than 131,000 megawatt hours to local grid partners in 2023, supporting electrical grid stability.

Core Scientific, Inc. (OTC: CORZQ) has announced the pre-payment of the outstanding balance on the debtor-in-possession financing package provided by B. Riley Financial (NASDAQ: RILY). The company retains access to the full $35 million of available funding under the DIP financing package and maintains a strong liquidity position heading towards emergence, targeted for mid to late-January 2024.

Core Scientific, Inc. (OTC: CORZQ) has announced the filing of an amended plan of reorganization and extension of the subscription deadline for its Equity Rights Offering to January 5, 2024. The Company has reached a global settlement with key stakeholders and expects to emerge from Chapter 11 in mid-to-late January 2024.

Core Scientific, Inc. (OTC: CORZQ) has reached a global settlement in its Chapter 11 cases, allowing the company to move forward with a consensual plan of reorganization. The equity rights offering subscription deadline has been extended to December 28, 2023, and the confirmation hearing has been rescheduled to January 10, 2024.

Core Scientific, Inc. (CORZQ) releases presentation for Equity Rights Offering (ERO)

Core Scientific, Inc. (OTC: CORZQ) has extended the subscription deadline for its Equity Rights Offering to December 15, 2023. The company also released a webcast highlighting its planned emergence from Chapter 11 in January 2024, emphasizing potential recovery value to shareholders and noteholders, post-emergence capital structure, and an emergence timeline.