Core Scientific Announces Proposal to Issue $350 million Convertible Senior Notes, Drops Over 10% on Next Day
2024-08-14 00:00:23
14 news listing bitcoin mining core scientific announced Tuesdaydesk3cryptocurrencydesktopCrypto News
On August 14th, listed bitcoin miner Core Scientific announced plans on Tuesday to issue up to $350 million in convertible senior notes that will mature in 2029. The company's share price (CORZ) fell by more than 10% the day after the announcement. The bonds will be issued to qualified institutional buyers in a private offering and may come with a provision requiring buyers to purchase an additional $52.50 million in bonds. Investors can choose to hold the senior unsecured debt until maturity or convert it into stock. Interest is paid semi-annually.
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