BlackRock, which is Core Scientific’s largest shareholder according to FactSet data, already held $37.9 million in secured convertible notes as of Dec. 28. The latest $17 million is part of the new $75 million convertibles notes, which is part of its prearranged bankruptcy process, the filing says. In a prearranged bankruptcy, the debtor reaches some sort of agreement with its debtee before officially filling for bankruptcy.
Related posts
-
Robert Kiyosaki Frustrated by ‘Lame Excuses’ to Avoid Buying Bitcoin – Foresees Significant Price Rise
Rich Dad Poor Dad author Robert Kiyosaki has urged investors to buy bitcoin despite the cryptocurrency’s... -
Bernstein Analysts Revise Bitcoin Target, $200,000 And $1 Million Become Main Focus
Bernstein analysts Gautam Chhugani and Mahika Sapra recently revised their price targets for Bitcoin in their... -
ASX set to launch Australia’s first spot Bitcoin ETF
The Australian Securities Exchange (ASX) will debut its first exchange-traded fund directly investing in Bitcoin (BTC)...