Core Scientific (CORZ) Strengthens Balance Sheet

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Go back to Core Scientific (CORZ) Strengthens Balance Sheet

Core Scientific Strengthens Balance Sheet and Supports Growth Plans with Proceeds from Recent Convertible Notes Offering

August 20, 2024 4:10 PM EDT

Repays $267 million in debt, reducing interest rate from approximately 12.5% to 3% Removes restrictive covenants associated with certain notes Increases cash on hand to fund site acquisitions for HPC hosting growth

AUSTIN, Texas--(BUSINESS WIRE)-- Core Scientific, Inc. (NASDAQ: CORZ) (Core Scientific or the Company), a leader in digital infrastructure for bitcoin mining and high-performance computing, today announced it has repaid a total of $267 million in debt with proceeds from its offering of convertible senior notes first announced on August 13, 2024, which closed on August 19, 2024.

The Company repaid $150... More