Core Scientific to issue $500 million of convertible senior notes, net proceeds to be used for general corporate purposes

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ODAILY
12-03
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Odaily Planet Daily reports that Bitcoin mining company Core Scientific has announced a private placement of $500 million in convertible preferred notes due 2031 to qualified institutional buyers. Core Scientific also intends to grant the initial purchasers of the notes an option to purchase up to an additional $75 million principal amount of the notes, to be settled within 13 days (including the date) of the initial issuance of the notes. Core Scientific plans to use the net proceeds from this offering for general corporate purposes, including working capital, operating expenses, capital expenditures, acquisitions of complementary businesses, or repurchases of its securities.

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