Core Scientific closes $625M zero-coupon convertible notes due 2031, upsized from $500M

Core Scientific, Inc./tx

Completed private offering of $625M aggregate principal amount of 0.00% convertible senior notes due June 2031.
Initial conversion price ~$22.49/share, representing ~42.5% premium over $15.78 reference VWAP.
Net proceeds ~$608.7M after full exercise of initial purchasers' option and expenses.
Notes redeemable at company's option after June 2028 with conditions; noteholders may require repurchase on Dec 15, 2027 or upon fundamental change.
Proceeds for general corporate purposes, including capex, acquisitions, or share repurchases.

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