BlockBeats news, on December 3, the U.S. listed mining company Core Scientific announced a private placement of convertible senior notes due 2031 totaling $500 million to qualified institutional buyers. Core Scientific also hopes to grant the initial purchasers of the notes a purchase option to settle within 13 days from the date of the initial issuance of the notes (including the day of issuance), with a maximum additional purchase of $75 million in principal of the notes.
Core Scientific intends 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.