Core Scientific, Inc. — Form 8-K Summary
Business Context and Reporting Period
Power & Digital Infrastructure Acquisition Corp. (the predecessor SPAC to Core Scientific, Inc.) filed this Form 8-K on April 5, 2021, under Item 8.01. The filing reports the commencement of separate trading of the securities included in its units.
Key Financial Metrics
This filing does not provide financial statements, revenue, profit, cash flow, margin, debt, liquidity, or other operating metrics.
Material Changes Versus Prior Period
Beginning April 5, 2021, holders could elect to separate each unit into one share of Class A common stock and one-fourth of one redeemable warrant. Units that were not separated continued trading on Nasdaq under XPDIU.
- Separated Class A common stock traded under XPDI.
- Separated redeemable warrants traded under XPDIW.
- Each whole warrant was exercisable for one share of Class A common stock at an exercise price of $11.50.
- No fractional warrants were issued; only whole warrants traded.
- Brokerage firms were required to contact Continental Stock Transfer & Trust Company to process unit separations.
Guidance, Outlook, Risks, and Unusual Items
The filing contains no operating guidance, financial outlook, management commentary, contingencies, or discussion of material risks beyond the mechanics of separating and trading the securities.
Facts Investors Should Verify
- Whether units were separated and the resulting securities traded under the correct Nasdaq symbols.
- The applicable warrant terms, including the $11.50 exercise price and whole-warrant requirement.
- The relationship between Power & Digital Infrastructure Acquisition Corp. and the later Core Scientific, Inc. transaction and corporate structure.
- The filing’s attached Exhibit 99.1 press release for the detailed separation-trading announcement.