Mining company Core Scientific plans to issue $500 million in convertible senior notes

ChainCatcher news, mining company Core Scientific is privately issuing $500 million of convertible senior notes due in 2031 to qualified institutional buyers. Core Scientific also intends to grant the initial purchasers of the notes a purchase option to settle within 13 days (inclusive) from the date of the initial issuance, allowing for the purchase of up to an additional $75 million principal amount of notes.

Core Scientific plans to use the net proceeds from this offering for general corporate purposes, including working capital, operating expenses, capital expenditures, acquiring complementary businesses, or repurchasing its securities.