Transaction Information
Core Scientific, Inc. (NASDAQ: CORZ) announced the completion of its previously announced private offering of $460 million aggregate principal amount of its 3.00% Convertible Senior Notes due 2029, which includes the full exercise of the initial purchasers' option to purchase an additional $60 million. The Notes were issued pursuant to an indenture dated August 19, 2024, between the company and U.S. Bank Trust Company, National Association, as trustee.
Ladenburg Thalmann & Co. Inc. acted as a co-manager for the offering.
Core Scientific intends to use approximately $211.2 million of the net proceeds to repay outstanding loans and redeem secured notes, with the remaining balance allocated for general corporate purposes, including working capital, operating expenses, and potential acquisitions or other repurchases of its securities.
About Core Scientific, Inc.
Core Scientific is a leader in digital infrastructure for bitcoin mining and high-performance computing (HPC) operations. The company operates eight operational data centers across the U.S. and employs a large fleet of computers to mine bitcoin for its own account and offer hosting services for third-party customers. With significant contracts such as the recently announced partnership with CoreWeave, Core Scientific is well-positioned to scale its hosting services and enhance earnings power. For more information, visit www.corescientific.com.
The information and material presented is provided for informational purposes only and are not to be used or considered as an offer or the solicitation of an offer to sell or buy any securities mentioned herein.