Core Scientific, a cryptocurrency miner, has delayed its bankruptcy exit hearing as it continues strategic negotiations with stakeholders. The company expects to emerge from bankruptcy in mid-to-late January 2024, roughly a year after being affected by high-profile industry collapses. An agreement in principle has been reached with key stakeholders on a Chapter 11 settlement, and the deadline for its equity rights offering has been extended. Compensation will be provided for convertible note holders and shareholders, with the latter group receiving limited compensation.
Crypto miner Core Scientific expects to emerge from bankruptcy in January https://t.co/2BShfSNvfo https://t.co/5trsYw0qvk
NEW: Core Scientific reaches agreement in principle with key stakeholders on Chapter 11 settlement and extends equity rights offering deadline https://t.co/JnsOsOlpRv
Core Scientific is exiting bankruptcy in 2024 with compensation for convertible note holders and shareholders alike, albeit limited for the latter. https://t.co/1sjIV6JtCg
⚠️ CRYPTO MINER CORE SCIENTIFIC EXPECTS TO EMERGE FROM BANKRUPTCY IN JANUARY Cryptocurrency miner Core Scientific said on Thursday it was expecting to emerge from bankruptcy in mid-to-late January, a year after it became a casualty of high-profile collapses that led to a rout…
NEW: Core Scientific bankruptcy exit hearing delayed amid strategic negotiations with stakeholders https://t.co/FQaXc4NJcy