$460M convertible note offering, $211.2M used to repay senior debt
Company: Core Scientific
The claim, verbatim
Core Scientific completed a $460 million convertible note offering and used about $211.2 million of net proceeds to repay existing senior debt. This cut the interest rate from as high as 12.5% to 3% and eliminated restrictive covenants.
Source (primary)
core-scientific 8-K exhibit (q32024corescientificinc-ea.htm) (SEC EDGAR (8-K Ex), press_release)
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Quote: “Completed $460 million convertible note offering and used approximately $211.2 million of the net proceeds to repay existing senior debt, reducing interest rate from as high as 12.5% to 3% for the convertible notes and eliminating restrictive covenants”
How we checked this
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Additional evidence
confirms core-scientific 8-K exhibit (q32024corescientificinc-ea.htm)
Quote: “Completed $460 million convertible note offering and used approximately $211.2 million of the net proceeds to repay existing senior debt, reducing interest rate from as high as 12.5% to 3% for the convertible notes and eliminating restrictive covenants”