Ibex Investors Discloses Stake in Core Scientific (CORZ)

TL;DR

**Ibex Investors just revealed a new stake in Core Scientific, signaling institutional interest.**

AI Summary

Ibex Investors LLC, a Colorado-based investment firm, filed an SC 13G on February 1, 2024, disclosing its ownership of Core Scientific, Inc./tx (NASDAQ: CORZ) common stock as of January 23, 2024. This filing indicates that Ibex Investors LLC, along with its affiliated entities like IBEX GP LLC and IBEX PARTNERS (CORE) LP, holds a significant stake in the Bitcoin mining company. This matters to investors because it signals a notable institutional investor has taken a position, potentially indicating confidence in Core Scientific's future, which could influence other investors' perceptions and the stock's performance.

Why It Matters

This filing reveals a new institutional investor, Ibex Investors LLC, has taken a position in Core Scientific, which can be seen as a vote of confidence in the company's prospects.

Risk Assessment

Risk Level: low — An SC 13G filing generally indicates passive investment and does not inherently pose a direct risk to the company or its shareholders.

Analyst Insight

A smart investor would view this as a positive signal, indicating institutional confidence in Core Scientific, and might consider further research into the company's fundamentals and recent performance.

Key Players & Entities

• Ibex Investors LLC (company) — Reporting Person, investment firm
• Core Scientific, Inc./tx (company) — Subject Company, Bitcoin mining company
• IBEX GP LLC (company) — Group Member, affiliated with Ibex Investors LLC
• IBEX PARTNERS (CORE) LP (company) — Group Member, affiliated with Ibex Investors LLC
• Justin B. Borus (person) — Group Member, affiliated with Ibex Investors LLC
• January 23, 2024 (date) — Date of Event Which Requires Filing

Forward-Looking Statements

• Other institutional investors may take note of Ibex Investors' position and potentially initiate or increase their own stakes in Core Scientific. (Core Scientific, Inc./tx) — medium confidence, target: Q2 2024
• Core Scientific's stock price could see a minor positive sentiment bump due to the disclosed institutional interest. (Core Scientific, Inc./tx) — low confidence, target: February 2024

FAQ

Key Financial Figures

• $0.00001 — Inc. (Name of Issuer) Common Stock, $0.00001 par value per share (Title of Class o

Filing Documents

• tm244829d1_sc13g.htm (SC 13G) — 76KB
• tm244829d1_ex-1.htm (EX-99.1) — 4KB
• 0001104659-24-009454.txt ( ) — 82KB

If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b)

Item 3. If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) A non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J); (k) Group, in accordance with §240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J), please specify the type of institution: ______________________

Ownership

Item 4. Ownership. See Items 5-9 and 11 on the cover page for each Reporting Person, and Item 2, which information is given as of the end of business on February 1, 2024, being the date of filing of this Schedule 13G, and consists of: (x) 4,813,877 shares of Common Stock issuable upon the conversion of certain convertible notes owned by the Fund; (y) 49,106 shares of Common Stock owned by Mr. Borus; and (z) 19,813 shares of Common Stock owned by the Investment Manager. Page 9 of 13 Pages As of the end of business on the Event Date of January 23, 2024, the Fund directly beneficially owned 11,385,116 shares of Common Stock (consisting of 6,571,239 shares of Common Stock and 4,813,877 shares of Common Stock issuable upon the conversion of certain convertible notes), together representing 6.0% of all of the outstanding Common Stock. The percentages of beneficial ownership contained herein are based on: (x) 184,998,580 shares of Common Stock outstanding as of January 23, 2024, as obtained by the Reporting Persons directly form the Issuer; and (y) 4,813,877 shares of Common Stock issuable upon the conversion of the convertible notes described above.

Ownership of Five Percent or Less of a Class

Item 5. Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following:

Ownership of More than Five Percent on Behalf of Another

Item 6. Ownership of More than Five Percent on Behalf of Another Person. Not applicable.

Identification and Classification of the Subsidiary Which

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. Not applicable.

Identification and Classification of Members of the Group

Item 8. Identification and Classification of Members of the Group. Not applicable.

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group. Not applicable.

Certification

Item 10. Certification. (a) Not applicable. (b) Not applicable. (c) By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §240.14a-11. Page 10 of 13 Pages SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: February 1, 2024 Justin B. Borus Ibex Investors LLC Ibex Partners (Core) LP Ibex GP LLC Ibex Investment Holdings LLC Ibex Investment Holdings II LLC By: /s/ Justin B. Borus Justin B. Borus, for himself and as the Manager of each of the Investment Manager, IM Holdings, the General Partner (for itself and on behalf of the Fund) and GP Holdings Page 11 of 13 Pages EXHIBIT INDEX Exhibit No.Document 1 Joint Filing Agreement Page 12 of 13 Pages

View Full Filing

View this SC 13G filing on SEC EDGAR