secwatch.observer — SEC 8-K summary
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Issuer:     Core Scientific, Inc./tx (CORZ)
CIK:        0001839341
Form:       8-K
Filed at:   2024-12-05T23:59:59+00:00
Accession:  0001628280-24-050080
Event type: debt
Sentiment:  neutral
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 $625M zero-coupon convertible notes due 2031, upsized from $500M
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1839341/000162828024050080/0001628280-24-050080-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1839341/000162828024050080/core-20241202.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-050080

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