secwatch.observer — SEC 8-K summary
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Issuer:     Core Scientific, Inc./tx (CORZ)
CIK:        0001839341
Form:       8-K
Filed at:   2024-08-19T23:59:59+00:00
Accession:  0001628280-24-037702
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Core Scientific closes $460M convertible note offering; redeems $150M secured notes
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- Issued $460M of 3.00% convertible senior notes due 2029, including full exercise of $60M initial purchasers' option.
- Used $61.2M to repay credit facility and $150M to redeem all 12.50% secured notes due 2028.
- Initial conversion price ~$11.00/share, a ~30% premium over $8.46 close on Aug 13, 2024.
- Net proceeds ~$445M; remainder for working capital, capex, acquisitions, or stock repurchases.
- Notes convertible under certain conditions; redeemable at company's option on or after Sept 7, 2027.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1839341/000162828024037702/0001628280-24-037702-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1839341/000162828024037702/core-20240813.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-037702

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer