8-K - Core Scientific Inc New | StockGist

AI Analysis

AI-generated analysis. Always verify with the original filing.

CoreWeave, Inc. closed an $8.5 billion delayed draw term loan facility on March 30, 2026, to finance capital expenditures for a customer contract, marking the first investment-grade rated financing secured by HPC infrastructure.

Key Takeaways

1CoreWeave closed an $8.5 billion delayed draw term loan facility (DDTL 4.0 Facility) on March 30, 2026, with a maturity date of March 31, 2032.

2The facility is primarily to finance capital expenditures required to perform a customer contract, including acquisition of GPU servers and related infrastructure.

3The DDTL 4.0 Facility received investment-grade ratings of A3 from Moody's and A (low) from DBRS, representing the first such rating for HPC infrastructure financing.

4The facility includes a floating rate tranche at SOFR + 2.25% and a fixed rate tranche at approximately 5.9%, reflecting reduced cost of capital.

5All obligations are guaranteed by CoreWeave, Inc. on a limited recourse basis for specified 'bad acts' and secured by substantially all assets of the borrower and its subsidiaries.

6The borrower must maintain a debt service coverage ratio of at least 1.15x beginning the first full calendar month after commitments are reduced to zero or June 30, 2027.

Current Report Details

Event Type

Material Agreement

Regulation Fd

Exhibits Only

Disclosure

Mandatory

Variant

8-K

Items Reported

1.01

is incorporated into this Item 2.03 by reference. Item 7.01. Regulation FD Disclosure On March 31, 2026, the Parent issued a press release announcing the closin

Material Agreement

Source Document

7.01

of this Current Report on Form 8-K, including Exhibit 99.1 hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934

Regulation Fd

9.01

Financial Statements and Exhibits (d) Exhibits. Exhibit No.: 10.1†^ | Description: Credit Agreement between CoreWeave Compute Acquisition Co. VIII, LLC, U.S. Ba

Exhibits Only

Source Document

Transaction Details

Material Agreement

Agreement: Credit Agreement
Parties: CoreWeave Compute Acquisition Co. VIII, LLC (Borrower), MUFG Bank, Ltd. (Administrative Agent), U.S. Bank Trust Company, National Association (Collateral Agent), U.S. Bank National Association (Depository Bank), MUFG Bank, Ltd. and Morgan Stanley Asset Funding, Inc. (Coordinating Lead Arrangers and Joint Bookrunners), Lenders party thereto

•$8.5 billion delayed draw term loan facility
•Available in one or more draws until commitment termination date in June 2027
•Maturity date March 31, 2032
•Interest rates: SOFR + 2.25% for floating rate loans, base rate + 1.25% for base rate loans, 2.00% plus blended Treasury rate for fixed rate loans
•Undrawn fees: 0.50% per annum on undrawn portion payable monthly
•Limited guarantee by CoreWeave, Inc. for specified 'bad acts'
•Secured by substantially all assets of borrower and subsidiaries
•Debt service coverage ratio covenant of at least 1.15x
•Customary negative covenants and events of default

Debt / Financing

Instrument: Delayed Draw Term Loan Facility
Principal: 8500000000
Rate: SOFR + 2.25% for floating rate loans, base rate + 1.25% for base rate loans, 2.00% plus blended Treasury rate for fixed rate loans
Maturity: 2032-03-31
Use of Proceeds: Finance capital expenditures required to perform a customer contract, including acquisition of GPU servers and related infrastructure

Exhibits (4)

10.1

EX-10.1

10.2

EX-10.2

8-K

99.1

EX-99.1