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Core Scientific to Issue $500 million Convertible Senior Notes

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2024-12-03 01:50:22
On December 3rd, Core Scientific, a US-listed mining company, announced the private placement of convertible senior notes maturing in 2031 with a total amount of $500 million to qualified institutional buyers. Core Scientific also hopes to grant the initial purchaser of the note the option to settle within 13 days (including the day) from the date of the initial issuance of the note, and can purchase up to an additional $75 million of principal.
Core Scientific intends to use the net proceeds from this offering for general corporate purposes, including working funds, operating expenses, capital expenditures, acquisitions of complementary businesses, or repurchases of its securities.
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