Core Scientific To Privately Offer $500 Mln Of Sr. Notes

(RTTNews) - Core Scientific, Inc. (CORZ) Monday announced its plan to privately offer $500 million of senior notes due 2031.

Core Scientific intends to use the net proceeds from the offering for general corporate purposes, including working capital, operating expenses, capital expenditures, acquisitions of complementary businesses, or repurchases of its securities.

The company also expects to grant the initial purchasers of the notes an option to purchase an additional $75 million principal amount of notes.

The notes will be redeemable from time to time, on or after June 22, 2028 and on or before the 20th scheduled trading day immediately before the maturity date, but only if the last reported sale price per share of Core Scientific's common stock exceeds 130 percent of the conversion price for a specified period of time and certain other conditions are satisfied.