BlackRock, which is Core Scientific’s largest shareholder in line with FactSet information, already held $37.9 million in secured convertible notes as of Wednesday. The newest $17 million is a part of the brand new $75 million convertibles notes, that are a part of Core’s prearranged chapter course of, the submitting says. In a prearranged chapter, the debtor reaches some form of settlement with its collectors earlier than formally submitting for chapter.
