Anuncio • Oct 31
Core Scientific, Inc. to Report Q3, 2024 Results on Nov 06, 2024 Core Scientific, Inc. announced that they will report Q3, 2024 results After-Market on Nov 06, 2024 Anuncio • Aug 01
Core Scientific, Inc. to Report Q2, 2024 Results on Aug 07, 2024 Core Scientific, Inc. announced that they will report Q2, 2024 results After-Market on Aug 07, 2024 Anuncio • Jun 08
CoreWeave, Inc. cancelled the acquisition of Core Scientific, Inc. (NasdaqGS:CORZ). CoreWeave, Inc. made an unsolicited non-binding proposal to acquire Core Scientific, Inc. (NasdaqGS:CORZ) for $1.2 billion on June 3, 2024. CoreWeave made a proposal to acquire all of the outstanding shares of Core Scientific on a fully diluted basis for $5.75 per share in cash. The Board of Directors of Core Scientific determined that the CoreWeave proposal significantly undervalues the Company and is not in the best interests of Core Scientific and its shareholders. Moelis & Company LLC is acting as financial advisor to Core Scientific. Sidley Austin LLP is acting as legal advisor to Core Scientific.
CoreWeave, Inc. cancelled the acquisition of Core Scientific, Inc. (NasdaqGS:CORZ) on June 6, 2024. Anuncio • May 05
Core Scientific, Inc. to Report Q1, 2024 Results on May 08, 2024 Core Scientific, Inc. announced that they will report Q1, 2024 results After-Market on May 08, 2024 Anuncio • Mar 06
Core Scientific, Inc. to Report Fiscal Year 2023 Results on Mar 12, 2024 Core Scientific, Inc. announced that they will report fiscal year 2023 results After-Market on Mar 12, 2024 Anuncio • Jan 18
Modified Fourth Amended Joint Reorganization Plan and Disclosure Statement Approved for Core Scientific, Inc. The US Bankruptcy Court approved the modified fourth amended joint plan of reorganization and Disclosure Statement of Core Scientific, Inc. on January 16, 2024. The debtor has filed its modified fourth amended joint plan in the Court on January 15, 2024. As per the amended plan, administrative expense claims, professional fee claims, priority non-tax claim, priority tax claims, DIP claims of $105 million, shall be paid in full in cash. April convertible notes secured claims of $350 million shall receive its pro rata share of the new secured notes, pro rata reduced convertible notes share of (a) the new secured convertible notes and (b) the convertible noteholders equity distribution, (iii) such holder’s pro rata convertible notes equity distribution share of the contingent payment obligations, and (iv) such holder’s pro rata total convertible notes. August convertible notes secured claims of $360 million shall receive its pro rata share of reduced convertible notes share of (a) the new secured convertible notes and (b) the convertible noteholders equity distribution, (ii) such holder’s pro rata convertible notes equity distribution share of the contingent payment obligations, and (iii) such holder’s pro rata total convertible notes share of (a) the ERO shortfall equity distribution (if any), (b) the first incremental convertible noteholders equity distribution (if any), and (c) the second incremental convertible noteholders equity distribution. Miner equipment lender secured claims of $253.7 million shall receive such holder’s applicable miner equipment lender takeback debt. Other secured claims of $20.6 million shall be reinstated. M&M lien secured claims are of $0. Secured mortgage claims of $0.81 million shall receive such Holder’s applicable Mortgage Takeback Debt. General unsecured claims of $89.6 million shall receive its pro rata share of new common interests with a value, based on plan value, equal 100% of such holder’s allowed general unsecured claim, (y) such holder’s pro rata share of the GUC settlement additional equity distribution amount, and (z) such holder’s pro rata share of the GUC contingent payment obligations. Convenience claims of $0.13 million shall be paid in full in cash. Intercompany claims and intercompany interests shall be reinstated. Section 510(b) claims are estimated to be $0. Existing common interests shall receive its pro rata share of equity share of the residual equity pool, (ii) such holder’s pro rata equity share of the new warrants, and (iii) the right to participate in the rights offering in accordance with the rights offering procedures. The plan shall be funded through cash, new April secured notes, new August secured notes, first-lien delayed draw term loans, M&M lien takeback debt, miner equipment lender takeback debt, mortgage takeback debt, and common stock. Anuncio • Jan 09
Core Scientific, Inc. has completed a Follow-on Equity Offering in the amount of $55 million. Core Scientific, Inc. has completed a Follow-on Equity Offering in the amount of $55 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: Rights Offering Anuncio • Dec 28
Amended Reorganization Plan Filed by Core Scientific, Inc. Core Scientific, Inc., along with its affiliates, filed fourth amended joint plan of reorganization with related disclosure statement in the US Bankruptcy Court on December 26, 2023. As per the plan filed, Convenience Claims shall be paid in cash. Anuncio • Nov 22
Core Scientific, Inc. has filed a Follow-on Equity Offering in the amount of $55 million. Core Scientific, Inc. has filed a Follow-on Equity Offering in the amount of $55 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: Rights Offering Anuncio • Sep 23
Core Scientific, Inc. announced that it expects to receive $53.9 million in funding from Bitmain Technologies Limited Core Scientific, Inc. announced a private placement of common shares for the gross proceeds of $53.9 million on September 22, 2023. The transaction will include participation from new investor Bitmain Technologies Limited. Anuncio • Aug 05
Core Scientific, Inc. Appoints Adam Sullivan as Chief Executive Officer Core Scientific, Inc. announced Adam Sullivan has been appointed Chief Executive Officer. Adam assumes the CEO position after serving as President of Core Scientific. Mike Levitt will continue as the Chairman of the Board of Directors. Since joining the company, Adam has redesigned Cores organizational structure, enhanced the Companys restructuring efforts and improved communication and collaboration across functions. Adams expertise and strategic vision for the future of Core Scientific has resulted in increased engagement across the team. Adam Sullivan has more than a decade of experience in financial services, with a focus on investment banking in the digital assets and infrastructure space. His expertise spans strategy development, corporate finance and M&A. Prior to joining Core Scientific as President in 2023, Adam served as a Managing Director and Head of Digital Assets and Infrastructure at XMS Capital Partners. In his role at XMS, Adam established himself as one of the key facilitators for M&A and capital raises in the crypto mining industry, overseeing more than $5 billion of transactions, including Core Scientifics business combination with Power &Digital Infrastructure Acquisition Corp. in 2021. He previously served at Indian Wells Capital Management and M&T Bank. Adam received his Bachelor of Arts in Financial Economics from the University of Rochester. Anuncio • May 18
Core Scientific, Inc. Appoints Adam Sullivan as President On April 20, 2023, the board of directors of Core Scientific, Inc. appointed Adam Sullivan as president, effective May 15, 2023. Mr. Sullivan will report to Mike Levitt, the Company’s Chief Executive Officer, and will oversee financial and strategic matters, including assisting with the negotiation of the Company’s reorganization plan. In connection with the appointment of Mr. Sullivan, Todd M. DuChene will continue to serve as the Company’s Chief Legal Officer while also assuming the new role of Chief Administrative Officer. Prior to his appointment as President, Mr. Sullivan, age 32, was Managing Director and Head of Digital Assets and Infrastructure Group at XMS Capital Partners, where he oversaw over $5 billion of transactions. Mr. Sullivan joined XMS Capital Partners in 2017. Mr. Sullivan also represented the Power and Digital Infrastructure Acquisition Corporation in its acquisition of Core Scientific Holding Company, the Company’s predecessor, in 2021. Anuncio • May 11
Core Scientific, Inc. announced delayed 10-Q filing On 05/10/2023, Core Scientific, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Anuncio • Jan 04
Core Scientific, Inc.(OTCPK:CORZ.Q) dropped from NASDAQ Composite Index Core Scientific, Inc. has been removed from NASDAQ Composite Index . Anuncio • Dec 28
Core Scientific's Common Stock to Be Delisted from Nasdaq On December 22, 2022, Core Scientific, Inc. received written notice (the "Delisting Notice") from the staff of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, as a result of the Chapter 11 Cases and in accordance with Nasdaq Listing Rules 5101, 5110(b) and IM-5101-1, the staff of Nasdaq had determined that the Company's common stock (the "Securities") will be delisted from Nasdaq. Trading of the Securities will be suspended at the opening of business on January 3, 2023 and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove the Securities from listing and registration on Nasdaq. In the Delisting Notice, the staff of Nasdaq referenced concerns about the Company's ability to sustain compliance with all requirements for continued listing on Nasdaq and public interest concerns related to the Chapter 11 Cases. The Delisting Notice also indicates that the Company may appeal Nasdaq's determination pursuant to procedures set in Nasdaq Listing Rule 5800 Series. The Company is currently evaluating the options available to it in connection with Delisting Notice. Anuncio • Dec 22
Core Scientific, Inc. Filed for Bankruptcy Core Scientific, Inc., along with its ten affiliates filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the Southern District of Texas on December 21, 2022. The debtor listed both its assets and liabilities in the range of $1 billion to $10 billion. The debtor is represented by Alfredo R Perez of Weil, Gotshal & Manges LLP as its legal counsel. The debtor also hired PJT Partners LP as its investment banker and AlixPartners, LLP as its financial advisor. Stretto Inc. has been appointed as claims and noticing agent to the debtor. Anuncio • Dec 17
Core Scientific Receives A Written Notice from the Listing Qualifications Staff of Nasdaq Regarding Minimum Bid Price Requirement On December 13, 2022, Core Scientific, Inc. ("the Company") received a written notice (the Notice") from the Listing Qualifications Staff of The Nasdaq Stock Market ("Nasdaq") notifying the Company that, because theclosing bid price for the Company's common stock, par value $0.0001 per share (the Common Stock"), has fallen below $1.00 per share for 30 consecutive business days, the Company no longer meets the minimum bid price requirement for continued inclusion on The Nasdaq Global Select Market pursuant to Nasdaq Listing Rule 5450(a)(1) (the Bid Price Requirement"). This Notice has no immediate effect on the listing of the Company's Common Stock. Pursuant to Nasdaq Marketplace Rule 5810(c)(3)(A), the Company has an initial compliance period of 180 calendar days, or until June 12, 2023, to regain compliance with the Minimum Bid Price Requirement. If at any time before June 12, 2023, the closing bid price of the Common Stock is at least $1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written confirmation stating that the Company has achieved compliance with the Minimum Bid Price Requirement. If the Company's Common Stock does not regain compliance with the Minimum Bid Price Requirement during this initial 180-day grace period, the Company may be eligible for an additional grace period of 180 calendar days provided that (i) the Company satisfies Nasdaq's continued listing requirement for market value of publicly held shares and all other initial listing standards, with the exception of the Minimum Bid Price Requirement; and (ii) the Company provides written notice to Nasdaq of its intention to cure the delinquency during the second grace period. The Company intends to monitor the closing bid price of its Common Stock and may, if appropriate, consider available options to regain compliance with the Bid Price Requirement. There can be no assurance that the Company will be able to regain compliance with the Bid Price Requirement or that Nasdaq will grant the Company a further extension of time to regain compliance, if applicable. Anuncio • Nov 30
Stacie Olivares Resigns as A Director of Core Scientific, Inc On November 21, 2022, Stacie Olivares informed the Board of Directors of Core Scientific, Inc. of her intention to resign as a director of the Board and any committees thereof effective November 21, 2022. Ms. Olivares’ resignation was not due to any disagreement with the Board, the Company or management on any matter relating to the Company's operations, policies or practices. Anuncio • Nov 16
Core Scientific, Inc. Appoints Todd Duchene as President and Chief Legal Officer, Effective November 14, 2022 On November 9, 2022, the board of directors of Core Scientific, Inc. appointed Todd DuChene to serve as the Company’s President and Chief Legal Officer, effective November 14, 2022. Mr. DuChene, age 59, has served as the Company’s Executive Vice President, General Counsel, Chief Compliance Officer and Secretary since January 2022. He had served as General Counsel and Secretary of Core Scientific Holding Co. from April 2019 until Legacy Core’s merger with Power & Digital Infrastructure Acquisition Corp. Prior to joining Legacy Core, Mr. DuChene served as Senior Vice President, General Counsel and Secretary and Chief Compliance Officer for FLIR Systems, Inc., an industrial and military technology company, from September 2014 to April 2019. Anuncio • Oct 27
Core Scientific, Inc. Announces Management Changes Core Scientific, Inc. announced that on October 19, 2022, the Company eliminated the position held by Brian Neville, the Company’s Controller and Chief Accounting Officer. Denise Sterling, the Company’s Executive Vice President and Chief Financial Officer, will serve as principal accounting officer, effective immediately, in addition to her existing responsibilities. Ms. Sterling has served as the Company’s Chief Financial Officer since April 4, 2022, and prior to that she served as the Company’s Senior Vice President of Finance from May 2021. Anuncio • Aug 17
Core Scientific, Inc. announced delayed 10-Q filing On 08/16/2022, Core Scientific, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Reported Earnings • Aug 13
Second quarter 2022 earnings released: US$2.65 loss per share (vs US$0.034 loss in 2Q 2021) Second quarter 2022 results: US$2.65 loss per share (down from US$0.034 loss in 2Q 2021). Revenue: US$164.0m (up 118% from 2Q 2021). Net loss: US$861.7m (loss widened US$858.3m from 2Q 2021). Over the next year, revenue is forecast to grow 14%, compared to a 17% growth forecast for the industry in Germany. Anuncio • Aug 12
Core Scientific, Inc. Announces Impairment Charges for the Second Quarter Ended June 30, 2022 Core Scientific, Inc. announced impairment charges for the second quarter ended June 30, 2022. The company has announced impairment of goodwill of $840,000. Anuncio • Jul 22
Core Scientific, Inc. announced that it expects to receive $100 million in funding from B. Riley Principal Capital II, LLC Core Scientific, Inc. entered into a common stock purchase agreement with B. Riley Principal Capital II, LLC for gross proceeds of $100 million on July 20, 2022. The company issued purchase notices to the investor for over a 24-month period, and also issued 573,381 shares to the investor as consideration for its purchase under the purchase agreement. The company reimbursed $75,000 of reasonable legal fees and disbursements of investor's legal counsel in connection with the transactions. The securities issued will be made in reliance upon the provisions of Section 4(a)(2) of the Securities Act and Rule 506(b) of Regulation D promulgated by the commission under the Securities Act. Anuncio • Jul 06
Core Scientific, Inc. to Report Q2, 2022 Results on Aug 11, 2022 Core Scientific, Inc. announced that they will report Q2, 2022 results on Aug 11, 2022 Recent Insider Transactions • Jun 03
Co-Founder recently sold €8.4m worth of stock On the 1st of June, Darin Feinstein sold around 3m shares on-market at roughly €3.25 per share. This was the largest sale by an insider in the last 3 months. This was Darin's only on-market trade for the last 12 months. Anuncio • May 13
Core Scientific, Inc. Provides Operating Guidance for the Year 2022 Core Scientific, Inc. provided operating guidance for the year 2022. For 2022, the Company now expects to achieve total hashrate of between 30 EH/s and 32 EH/s, with total power of approximately 1 GW. Valuation Update With 7 Day Price Move • May 11
Investor sentiment deteriorated over the past week After last week's 18% share price decline to €4.30, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 22x in the IT industry in Germany. Reported Earnings • Apr 27
Full year 2021 earnings released: EPS: US$0.36 (vs US$0.23 loss in FY 2020) Full year 2021 results: EPS: US$0.36 (up from US$0.23 loss in FY 2020). Revenue: US$544.5m (up US$484.2m from FY 2020). Net income: US$47.3m (up US$70.0m from FY 2020). Profit margin: 8.7% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 93%, compared to a 20% growth forecast for the industry in Germany. Valuation Update With 7 Day Price Move • Apr 23
Investor sentiment deteriorated over the past week After last week's 19% share price decline to €5.90, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 26x in the IT industry in Germany. Anuncio • Apr 06
Core Scientific, Inc. Announces CFO Changes Core Scientific, Inc. announced that Denise Sterling, Senior Vice President of Finance, has been appointed to the role of Chief Financial Officer and will be moving to the Austin, TX headquarters later 2022. Former CFO Michael Trzupek will leave the company to pursue new opportunities after a transition period. Denise Sterling joined Core Scientific in May 2021, built and led the Company’s Financial Planning and Analysis function and developed financial processes and procedures supporting the Company’s entry into the public equity markets.Prior to joining Core Scientific, Mrs. Sterling served as Senior Vice President of Finance and FP&A for Oportun. Reported Earnings • Mar 31
Full year 2021 earnings released: EPS: US$365 (vs US$230 loss in FY 2020) Full year 2021 results: EPS: US$365 (up from US$230 loss in FY 2020). Revenue: US$544.5m (up US$484.2m from FY 2020). Net income: US$47.3m (up US$70.0m from FY 2020). Profit margin: 8.7% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 101%, compared to a 17% growth forecast for the industry in Germany. Board Change • Mar 29
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. Co-Founder, Co-Chairman & CEO Mike Levitt was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.