Core Scientific, Inc./tx
For the period ended Sep 30, 2025. Filed Oct 24, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Oct 24, 2025
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7 — Warrant Liabilities
- WARRANT LIABILITIES
Warrant Agreement
On January 23, 2024, the Company entered into a warrant agreement (the “Warrant Agreement”) providing for the issuance of 98,313,313 warrants, each exercisable forone share of New Common Stock at an exercise price of $6.81 per share (the “Tranche 1 Warrants”), and 81,927,898 warrants, each exercisable forone share of New Common Stock at an exercise price of $0.01 per share (the “Tranche 2 Warrants” and, together with the Tranche 1 Warrants, the “Warrants”). The Tranche 1 Warrants expire on January 23, 2027, and the Tranche 2 Warrants expire on January 23, 2029.
During the three and nine months ended September 30, 2025,0.1 million and 0.3 million Tranche 1 Warrants were exercised, respectively, which resulted in cash receipts of $1.1 million and $1.7 million. As of September 30, 2025, there were 97.4 million unexercised Tranche 1 Warrants.
During the three and nine months ended September 30, 2025,4.0 million and 10.0 million Tranche 2 Warrants were exercised, respectively, which resulted in immaterial cash receipts. As of September 30, 2025, there were 11.0 million unexercised Tranche 2 Warrants.
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