How to Subscribe to Core Scientific’s Equity Rights Offering

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AUSTIN, Texas–(BUSINESS WIRE)–$CORZQ #bitcoinCore Scientific, Inc. (OTC: CORZQ) (“Core Scientific” or the “Company”) today published a presentation providing detailed instructions for subscribing to its Equity Rights Offering (“ERO”).


The presentation provides answers to commonly asked questions about the subscription process and can be found here and also under Events and Presentations in the Investors section of the company’s website.

Shareholders of Core Scientific as of the record date of November 16, 2023 have the right to subscribe for shares in reorganized Core Scientific upon its emergence from Chapter 11 in the Equity Rights Offering. The deadline to participate in the Equity Rights Offering is Friday, December 15, 2023. The Rights Offering Procedures and Subscription Form can be found and submitted by clicking here.

The record date for the warrants and additional distributions is January 5, which is the planned emergence date.

On December 4, 2023, the Company released a webcast highlighting its planned January 2024 emergence from Chapter 11. The webcast and accompanying presentation highlight the potential recovery value to shareholders and noteholders, the Equity Rights Offering, its post-emergence capital structure, an emergence timeline and answers to questions received from investors. The webcast can be accessed here. A downloadable copy of the presentation can be found here.

The presentation is solely for informational purposes. Investors should not rely upon it or use it to form the definitive basis for any decision or action whatsoever, with respect to any proposed transaction or otherwise. Investors should read the Company’s Chapter 11 Plan and the related Disclosure Statement, each as amended or supplemented, which are available (i) on the website of Stretto, the Company’s voting and solicitation agent, at https://cases.stretto.com/corescientific/, (ii) by calling Stretto at (888) 317-1417 (in the U.S. and Canada; toll-free) or +1 (929) 399-0959 (outside of the U.S. and Canada), or (iii) by sending an electronic mail message to [email protected].

This press release is for informational purposes only and does not constitute an offer to sell or solicitation of an offer to buy any security.

ABOUT CORE SCIENTIFIC

Core Scientific (OTC: CORZQ) is one of the largest blockchain computing data center providers and miners of digital assets in North America. Core Scientific has operated blockchain computing data centers in North America since 2017, using its facilities and intellectual property portfolio for colocated digital asset mining and self-mining. Core Scientific operates data centers in Georgia, Kentucky, North Carolina, North Dakota and Texas. Core Scientific’s proprietary Minder® fleet management software combines the Company’s colocation expertise with data analytics to deliver maximum uptime, alerting, monitoring and management of all miners in the Company’s network. To learn more, visit http://www.corescientific.com.

FORWARD LOOKING STATEMENTS AND EXPLANATORY NOTES

Certain statements in this press release constitute “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the anticipated date of the Company’s emergence from Chapter 11. These statements are provided for illustrative purposes only and are based on various assumptions, whether or not identified in this press release, and on the current expectations of the Company’s management. These forward-looking statements are not intended to serve, and must not be relied on by any investor, as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These forward-looking statements are based on information available as of the date of this press release and current expectations, forecasts and assumptions and are subject to a number of risks and uncertainties, including, but not limited to, the Company’s ability to obtain bankruptcy court approval with respect to motions in its Chapter 11 cases, successfully enter into and implement a restructuring plan, emerge from Chapter 11 and achieve significant cash flows from operations; the effects of the Chapter 11 cases on the Company and on the interests of various constituents, bankruptcy court rulings in the Chapter 11 cases and the outcome of the Chapter 11 cases in general, the length of time the Company will operate under the Chapter 11 cases, risks associated with any third-party motions in the Chapter 11 cases, the potential adverse effects of the Chapter 11 cases on the Company’s liquidity or results of operations and increased legal and other professional costs necessary to execute the Company’s reorganization; satisfaction of any conditions to which the Company’s debtor-in-possession financing is subject and the risk that these conditions may not be satisfied for various reasons, including for reasons outside of the Company’s control; the consequences of the acceleration of the Company’s debt obligations; the trading price and volatility of the Company’s common stock as well as other risk factors set forth in the Company’s reports filed with the U.S. Securities & Exchange Commission. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Accordingly, undue reliance should not be placed upon the forward-looking statements.

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