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.
Source: https://www.coindesk.com/business/2022/12/30/blackrock-gives-bankrupt-bitcoin-miner-core-scientific-a-new-17m-loan/?utm_medium=referral&utm_source=rss&utm_campaign=headlines