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Power & Digital Infrastructure Acquisition Corp.

XPDI · Nasdaq

Trust settledCore Scientific, Inc./tx · Finished

NO ACTION REQUIRED

Nothing left to do

The purchase completed and the shares became shares in the company it bought. There is no deadline left to miss.

Cash at settlement

no closing figure

No cash-per-share figure was filed for this vehicle before it finished.

Last close

no quote on file

Daily close

Nothing left to claim

this vehicle finished

There is nothing to hand back: holders who wanted cash elected it at the vote, and the rest became shares in the buyer.

Read what happened to the cash

The floor

Trust settled

This SPAC has finished — its trust was paid out or used to close the deal, so there is nothing left to redeem

Read the reasoning behind this verdict

No price history on file yet — daily closes accumulate from the market data feed.

Trust settled · There is no line to draw here. This vehicle has finished: the cash was paid back or spent closing the deal, so the last filed figure describes an account that no longer exists and would be a floor under nothing.

SpacBrain’s read

Trust settled

The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).

In plain terms

What it is
A SPAC from Alussa Energy Acquisition Corp. II (Atkins Benjamin W), listed on Nasdaq in February 2021.
What it's doing now
It agreed to buy Core Scientific, Inc./tx, a digital currency mining and blockchain infrastructure company. That purchase completed, and it stopped being a SPAC — the shares became shares in the business it bought.
What you should know
This SPAC has finished. The purchase completed, and the shares became shares in the company it bought — anyone who wanted the cash instead asked for it at the vote, so there is no cash left here to claim and no deadline left to miss.

At a glance

Where it stands
Closed (deSPAC)
The business it bought
Core Scientific, Inc./tx — SCIENTIFIC Core Scientific is one of the largest publicly traded blockchain data center providers and miners of digital assets in North America.
Industry
Information Technology — digital currency mining and blockchain infrastructure
Deal value
not stated in the filings we hold
Price vs cash at settlement
no live price on file
Cash in trust when it settled
not yet extracted into a snapshot — the filings below may state it
the last trust total filed while this was still a SPAC — the account has since been paid out or used to close the deal
IPO
11 February 2021
size not on file
Headquarters
838 WALKER ROAD, DOVER, DE, 19904
registered in Delaware
Lead underwriter
not extracted from the prospectus yet
Key officers
DUCHENE TODD M (See remarks) · Adams Mark (Director) · Sullivan Adam Taylor (Chief Executive Officer)
Listed securities
XPDI common
Cash held per sharenot filed for this window

This vehicle has finished, so there is no window to file a cash-per-share figure for and none will follow. No estimate is shown in its place.

Next date that mattersno dated event on file

Nothing dated is on file. That is an absence in the record, not a statement that nothing is coming.

Yield to redemption

Nothing left to redeem — no yield to compute.

This SPAC has finished — its trust was paid back or used to close the deal, so there is nothing left to redeem and no yield to compute. A yield to redemption is a claim that you can hand these shares back for the trust cash. That account is closed, so this page will not print a number here.

What happened to the cash

The reasoning behind the verdict above, in the order the filings establish it.

  1. The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).

What has happened, and what is coming

1 dated milestone

Every dated step from the day it listed to the next date you may have to act on. Where you have to do something, the day your broker needs the instruction is marked too.

  1. 11 February 2021IPOpassed

    IPO size not on file

The deal

terms as filed

What it is buying, on what terms, and how much of the combined company new shares take from you.

  • Core Scientific, Inc./tx—
    closedInformation Technology

    What Core Scientific, Inc./tx does — read from corescientific.com on 26 August 2026

    Core Scientific provides high-density data center solutions purpose-built for demanding workloads such as AI and enterprise computing. The company offers scalable, energy-efficient colocation services with rapid deployment capabilities, leveraging over 1,300 MW of contracted power across U.S. locations. Their infrastructure supports compute densities of 50–200+ kW per cabinet and includes advanced features like direct liquid-cooling, lithium-ion UPS systems, and carrier-neutral connectivity.

    AI & Machine LearningCloudFinancial ServiceGovernmentHealthcareHyperscalers
    Deal structureSEC-primary — BCA 8-K / S-4 / DEFM14A
    Break fee
    $270M
    stated in:0001140361-25-036346 opens on sec.gov in a new tab

The score

deterministic, from filed fields

XPDI is not in the scored universe, so no score is shown. A withheld score is a fact about the record, not a verdict about the company.

Asymmetric return scoreNeither a price nor a cash-per-share figure is on file for this vehicle, and the score is a ratio between the two. Nothing is estimated to fill the gap.

The score is only published for names that carry both a price and a filed cash-per-share figure — 292 of the tracked fleet today. The rest keep an empty dial rather than a modelled one, and fill in by themselves as the fields land.

See the names that are scored, and how

The company

from SEC filings
Read the full profile

Power & Digital Infrastructure Acquisition Corp. was a blank-check company whose common stock traded on the Nasdaq Stock Market under the ticker CORZ. The company priced its initial public offering on February 11, 2021, under SEC file number 333-252355, with shares registered for cash on S-1 0001213900-21-003775. It was classified under SEC SIC industry code 6199 (Finance Services) and described itself as a blank-check company in its 424B4 prospectus. The company completed a business combination, reporting a change in shell company status in an 8-K filed on January 24, 2022, and EDGAR now files this CIK as "Core Scientific, Inc./tx."

Material findings

from the full read of every filing

Every document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.

  • 8-K14 August 20260001839341-26-000018opens on sec.gov in a new tab

    The $40 million is contingent on a capacity milestone by December 31, 2026 and has not been paid; only the approximately $444.3 million is the amount stated as paid. An announced deal has now closed, and the consideration was entirely cash.

  • 10-Q28 July 20260001839341-26-000014opens on sec.gov in a new tab

    Liabilities more than doubled in six months, to $7.68 billion, to fund $954.2 million of capital expenditure — this de-SPAC is levering aggressively into datacenter buildout, with customer prepayments from CoreWeave offsetting only $180.9 million of it. The AMD leases signed July 27, 2026 and the Polaris site acquisition extend that commitment further. The filing also carries live litigation alleging the company's power-cost pass-through model threatened its going concern, stayed by its December 21, 2022 bankruptcy petition.

  • 8-K28 July 20260001839341-26-000012opens on sec.gov in a new tab

    Item 7.01 states the Leases cover 377 MW with AMD at the Pecos TX, Muskogee OK and Hunt County TX sites and 152 MW with a Neocloud at Auburn AL and Dalton Phase 3 GA, each for a fifteen year term with three five-year options, and give AMD a reservation right over a further 1,925 MW through December 28, 2028. Credit Support Agreements let AMD cure certain Neocloud defaults. The warrant is a customer taking equity in its landlord as capacity is delivered.

  • DEFM14A26 September 20250001140361-25-036346opens on sec.gov in a new tab

    The merger consideration is CoreWeave stock rather than cash, so its value floats with CoreWeave's share price through to closing - holders are voting on an exchange whose worth they cannot fix. Requiring a majority of all outstanding shares, not just votes cast, means abstentions count as votes against. This is the same CoreWeave whose 70-megawatt contract expansion Core Scientific had been touting, so the customer is now the acquirer.

  • DEFM14A3 January 20220001193125-22-000232opens on sec.gov in a new tab

    Consideration is a formula, not a share count: each Core Scientific share converts into Class A shares equal to $4.0 billion divided by the fully-diluted Core Scientific share count, divided by $10.00 — so the exchange ratio is fixed in value terms and floats in share terms with Core Scientific's capitalisation at the effective time. The listing consequences are also stated: the Class A designation is dropped, the shares and public warrants move to CORZ and CORZW on Nasdaq, and the units cease to trade at closing.

  • S-4/A30 December 20210001193125-21-369877opens on sec.gov in a new tab

    Footnote (1) breaks the registered amount into parts that are not all merger consideration in the ordinary sense: up to 297,426,315 shares to Core Scientific common holders, including up to 11,333,364 on the pre-closing conversion of preferred; up to 6,587,459 on assumed or net-exercised warrants; up to 90,350,332 underlying assumed restricted stock units; and up to 10,698,273 on assumed or net-exercised options. Nearly a quarter of the registered shares therefore sit behind employee equity awards rather than being issued at closing.

Show 6 more material filings
  • S-4/A27 December 20210001193125-21-366402opens on sec.gov in a new tab

    The second step of this deal was still an LLC merger at this version — Core Scientific into XPDI Merger Sub 2, LLC, with the merger sub surviving beneath XPDI. Anyone reading the amendment series should treat the identity of the second-step survivor as version-specific rather than settled, since the December Second Amendment is not part of this document. The fee was priced under Rules 457(c) and 457(f)(1) on the average of the registrant's $10.01 high and $9.89 low on August 6, 2021, and is stated as previously paid.

  • S-4/A10 December 20210001193125-21-354089opens on sec.gov in a new tab

    Core Scientific is acquired through two mergers rather than one: XPDI Merger Sub Inc. merges into Core Scientific, which survives as a wholly owned subsidiary of XPDI, and Core Scientific then merges into XPDI Merger Sub 2, LLC, with the limited liability company surviving. The operating business therefore comes to rest in an LLC subsidiary rather than in a corporation. The registered amount is the same figure this registration statement carried in October, so what advanced here is the document's date and its disclosure, not its size.

  • S-4/A19 November 20210001193125-21-334237opens on sec.gov in a new tab

    The exchange ratio is defined rather than fixed: $4.0 billion divided by Core Scientific's fully diluted share count immediately before the effective time, then divided by $10.00. Closing requires aggregate cash from the trust account and any PIPE financing of at least $475 million after redemptions, and cash above $475 million may be used to buy shares from Core Scientific's own stockholders, capped at 20% of their holdings. The trust held approximately $345.0 million at September 30, 2021. The record date and the expected share totals are left blank.

  • S-4/A29 October 20210001193125-21-311899opens on sec.gov in a new tab

    Most of the registered total is not consideration paid at closing: up to 297,426,315 shares go to holders of Core Scientific common stock, and the rest is derivative and employee overhang — up to 90,350,332 shares underlying assumed restricted stock units, up to 10,698,273 underlying assumed options and up to 6,587,459 underlying assumed warrants. The $9.97 is XPDI's own average of high and low sale prices on August 6, 2021 under Rule 457(c) and Rule 457(f)(1), so the aggregate is a fee artefact priced off an early-August quotation, not a valuation of Core Scientific.

  • S-4/A4 October 20210001193125-21-290832opens on sec.gov in a new tab

    The itemisation shows the count is not one thing: up to 297,426,315 shares go to holders of Core Scientific common stock, and that already includes up to 11,333,364 issuable on conversion of Core Scientific preferred immediately before the effective time; up to 6,587,459 cover warrants the registrant assumes on their existing terms or that are deemed exercised on a net basis; and a further component of up to 90,350,332 shares is listed separately. Warrant and preferred holders therefore sit inside the registered ceiling, not outside it.

  • S-411 August 20210001193125-21-243436opens on sec.gov in a new tab

    The itemisation shows how much of the count is not plain merger consideration: up to 297,426,315 shares go to holders of Core Scientific common stock, and that figure already includes up to 11,333,364 shares issuable on conversion of Core Scientific's preferred stock immediately before the effective time. A further 6,587,459 shares cover warrants the registrant assumes on their existing terms and warrants deemed exercised on a net basis, so warrant holders sit inside the registered ceiling rather than outside it.

Filings

live EDGAR feed

Everything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.

  • 8-K27 August 20260001839341-26-000021opens on sec.gov in a new tab

    What changed: Core Scientific, Inc. filed a Form 8-K on August 27, 2026, reporting that on August 25, 2026, it entered into a Credit Agreement with JPMorgan Chase Bank, N.A. as administrative agent. The agreement establishes a senior secured revolving credit facility of up to $100.0 million and a letter of credit facility of up to $500.0 million, maturing on the third or fourth anniversary of the closing date at the Company's election. As of the Closing Date, no amounts were outstanding under either facility. The filing also lists Core Scientific's securities registered under Section 12(b): Common stock (CORZ) and two classes of warrants (CORZW exercisable at $6.81 per share; CORZZ exercisable at $0.01 per share). Why it matters: This filing discloses a new material definitive agreement creating direct financial obligations for Core Scientific, including specific interest rate margins (Adjusted Term SOFR + 1.750% or Alternate Base Rate + 0.75%), fees, and covenants such as a minimum liquidity requirement of $150.0 million and a minimum market capitalization of $3,000.0 million for borrowings. For investors tracking XPDI (Power & Digital Infrastructure Acquisition Corp.), which is noted as CLOSED, this document confirms the post-business combination status of the merged entity (Core Scientific) and its current debt structure, though it contains no information regarding SPAC redemption deadlines, trust value, or extensions.

  • 426 August 20260000905148-26-003935opens on sec.gov in a new tab
  • 424 August 20260000905148-26-003881opens on sec.gov in a new tab
  • 420 August 20260000905148-26-003841opens on sec.gov in a new tab
  • 419 August 20260000905148-26-003814opens on sec.gov in a new tab
Show the other 10 filings

The record

The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.

Show the reference detail

Unit structure

Cash in trust at IPOnot extracted from the prospectus

from 424B3 0001628280-25-016974

Trading & liquidity

Average daily volume (20d)no volume reported on the bars we hold
Average daily $ volumeneeds both volume and a live price
Range over the bars heldnot enough price history
Total cash in trustthe trust total is not in the last XBRL stamp

Company profile

Industry (SIC)Finance Services (6199)
Registered inDelaware
Exchange · CIKNasdaq · 0001839341

All filings on EDGARopens on sec.gov in a new tab

Directors & officers

Institutional holders

from SC 13G/13D

Funds that have declared a stake above 5%. Heavy ownership by arbitrage funds usually means heavy cash-outs at the next vote.

Show the declared stakes

11 filers with a stake on file · 0 re-affirmed in the last 12 months. A stake with no amendment since is the filer’s last word on it, not proof it is still held — and percentages filed in different years are percentages of different floats, because this vehicle’s share count collapses at every redemption.

One line per filer, not per reporting person: a joint schedule names the management company, its funds and often the individual who controls them, and all of them report the same shares. Click a name for that filer’s whole footprint across every SPAC it has declared a stake in.

News

company wires and the financial press

Reporting we have matched to this ticker. Headlines belong to the outlets that wrote them.

Show the headlines

Sources on file

harvested pages, kept in full

Every public page we have read about this company, stored in full so a source can never go missing.

Show the sources

32 full SEC filing texts archived — searchable, never lost.

In plain English

tap a term to open it

Every piece of jargon this page could have used, and what it actually means.

Open the plain-English guide
No floor / floorlessthe cash guarantee is gone — the price is unprotected

A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.

Redemption deadlinethe last day to hand shares back for cash

Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.

Broker action datethe day your broker needs the instruction — earlier than the official date

Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.

Cash in trust / trust per sharethe cash the company is holding for each public share

Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.

Trust discountbuying below the cash held for you

Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.

Dilutionhow much of the company new shares take from you

Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.

Pro-forma equitywhat the company is valued at once the deal closes

The combined company's equity value assuming the announced terms and the redemptions that have actually happened.

ARShow much upside you get per unit of downside

SpacBrain's asymmetric-return score. It is deterministic — the same inputs always produce the same number — and it is capped, not zeroed, when the floor is gone.

De-SPACthe day the SPAC becomes the real company

The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.

Outside datethe contractual long-stop for closing the deal

A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.

Accession numberthe SEC's unique id for one filing

Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.

Accreted NAV (estimate)the last filed cash figure, plus the interest it should have earned since

A model, not a filing: last filed value compounded at the 3-month T-bill for the days elapsed. Always shown in italic with the word estimate, and never printed beside a filed number without it.

Ask the brain

from its filings
Data provenance & audit trail4 internal entries

Written by SpacBrain’s data agents whenever a figure is captured, corrected or flagged, and kept verbatim so every number on this page can be traced back to the filing that states it. This is a running log, not the current record: an early entry may be superseded by a later correction — the panels above always hold the current values.

XPDI — company record
UNIVERSE-IPO-INDEX2026-08-17

admitted from EDGAR's QUARTERLY FORM INDEX, walked without any SIC filter. The SIC 6770 census could not reach this registrant: EDGAR reassigns a shell's SIC the day it stops being one, and this CIK now files under 6199 (Finance Services). The screen found it by filing SHAPE instead — S-1 2021-01-22 → 8-A12B 2021-02-09 → 424B4 2021-02-11 — which nothing rewrites. Admission rule: src/lib/universe-admit.ts. SIC 6199 + self-described blank check in 424B4 0001213900-21-008512; 424B 0001213900-21-008512 priced 2021-02-11 under S-1 0001213900-21-003775 (file 333-252355, an offering for cash); common ticker XPDI off 10-Q 0001213900-21-059558 (2021-11-15); lifecycle EXITED. The pricing prospectus was filed under SEC file number 333-252355, which belongs to S-1 0001213900-21-003775 (2021-01-22) — a registration of shares sold for CASH, which is what makes it an IPO rather than merger consideration. Blank-check status from the registrant's own first-person sentence in that prospectus (EDGAR full-text search, 424B4 2021-02-11). Ending PROVEN, not inferred: CLOSED per 8-K 0001193125-22-016157 (2022-01-24) — 8-K item 5.06 "Change in Shell Company Status" (EDGAR item index, items: 1.01,2.01,3.02,3.03,4.01,5.01,5.02,5.03,5.05,5.06,9.01). EDGAR now files this CIK as "Core Scientific, Inc./tx" — the SPAC's own name is kept here and the successor is the target. ipoSizeM and deadline left NULL: gross-proceeds prose conflates the over-allotment with the offering, and a charter deadline belonging to a vehicle that has ended is a date nobody can act on. ipoDate is the 424B pricing date.

SPONSOR-ID2026-08-14

sponsor "XPDI Sponsor LLC" (SEC CIK 0001839344) sourced from Form 3 reportingOwner (10% owner) acc 0001213900-21-007881.

Deal — Core Scientific, Inc./tx
UNTAGGED

[CLOSED-RENAME] EDGAR CIK 0001839341 records "Power & Digital Infrastructure Acquisition Corp." ending 2022-01-19; the registrant continues as "Core Scientific, Inc./tx". The rename is the SEC's own record of what the vehicle became, keyed by CIK. Closed 2022-01-19. No deal value is set — a rename says what was acquired, never for how much. No date column is set: Deal has announcedAt, voteDate and expectedCloseAt and nowhere to record an actual close, so the SEC's date is kept here until that column exists. [DEAL-STRUCTURE-MINED] terminationFeeM=270 from primary filings (0001140361-25-036346).

SEGMENT-FROM-FILING2021-12-30

OTHER -> CRYPTO, on S-4/A 0001193125-21-369877: "New Core’s ability to scale and grow its business and source clean and renewable energy, the advantages and expected growth of New Core, New Core’s "

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