B Riley said it is prepared to fund the first $40 million of the new financing immediately, with “zero contingencies.” The remainder of the financing is contingent on all principal payments to equipment lenders being suspended at bitcoin prices of $18,500 and below. Above that threshold, however, free cash flow from operations will be distributed to equipment lenders.
Source: https://www.coindesk.com/business/2022/12/14/bitcoin-miner-core-scientifics-lender-wants-to-give-miner-72m-to-avoid-bankruptcy/?utm_medium=referral&utm_source=rss&utm_campaign=headlines