BlackRock, which is Core Scientific’s largest shareholder according to FactSet data, already held $37.9 million in secured convertible notes as of Wednesday. The latest $17 million is part of the new $75 million convertibles notes, which are part of Core’s prearranged bankruptcy process, the filing says. In a prearranged bankruptcy, the debtor reaches some sort of agreement with its creditors before officially filing for bankruptcy.
Read More: www.coindesk.com
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