Core Scientific completes $55 million equity placement

ChainCatcher news, Bitcoin mining company Core Scientific announced the results of its $55 million equity offering (referred to as ERO), which was oversubscribed, with total subscriptions (including oversubscriptions) exceeding 55 million yuan (the ERO cap). The total amount of oversubscription will be allocated proportionally to the ERO participants exercising their oversubscription rights based on the number of restructured Core Scientific shares subscribed by each oversubscription participant.

Core Scientific CEO Adam Sullivan stated, "With this successful financing and the full repayment of the previously drawn DIP financing amount, we will emerge from Chapter 11 bankruptcy in January, enhancing our liquidity and positioning us favorably to continue executing our growth plan."