The post Core Scientific, Inc. Announces Filing of Amended Plan of Reorganization and Extension of Equity Rights Offering Subscription Deadline appeared on BitcoinEthereumNews.com.

Combined Hearing rescheduled to January 16, 2024 Equity Rights Offering subscription deadline extended to January 5, 2024 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 filing of an amended plan of reorganization (the “Plan”) and extension of the subscription deadline for its Equity Rights Offering to January 5, 2024. The Company previously announced a global settlement with all key stakeholders, including the Ad Hoc Noteholders Group, the Unsecured Creditors Committee, the Equity Committee, and B. Riley – the Company’s Debtor in Possession lender (the “Global Settlement”). While subject to further finalization, the Plan reflects the Global Settlement and represents another step towards confirmation and exit from Chapter 11. In connection with filing of the Plan, the Bankruptcy Court also approved the Company’s motion requesting to modify certain dates and deadlines with respect to the Plan, including an extension of the deadlines to vote on the Plan or file an objection to the Plan. While the Court has agreed to reschedule the combined hearing to consider both (a) final approval of the Disclosure Statement and (b) confirmation of the Plan to January 16, 2024 (the “Combined Hearing”), the Company still expects to emerge from Chapter 11 in mid-to-late January 2024. As a result of rescheduling the Combined Hearing, the deadline for participating in the Equity Rights Offering has been extended to Friday, January 5, 2024. The Rights Offering Procedures and Subscription Form can be found and submitted by clicking here. Plan and Equity Rights Offering Timeline: Event Illustrative Date1 / Timing Equity Rights Offering Record Date November 16, 2023 End of Rights Offering Subscription Period / Deadline for Funding Rights Offering Subscription Amounts January 5, 2023 Voting Deadline January 11, 2024 Currently…

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Filed under: News - @ December 29, 2023 11:16 pm