Core Scientific plans to issue $500 million convertible preferred notes

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ChainCatcher message, Core Scientific has completed a private sale issuance to qualified institutional buyers for a total of $5 billion of 2031 convertible senior notes. Core Scientific also intends to grant the initial purchasers of the notes the option to engage in Settlement within 13 days (inclusive) from the date of the first issuance, with the option to purchase an additional $75 million in principal amount of the notes. Core Scientific intends to use the net proceeds from this issuance for general corporate purposes, including working capital, operating expenses, capital expenditures, acquisition of complementary businesses, or repurchase of its securities.

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