What's Going With Core Scientific Stock Wednesday?
Portfolio Pulse from Dylan Berman
Core Scientific, Inc. (NASDAQ:CORZ) shares are moving higher after the company increased its offering of convertible senior notes from $350 million to $400 million. The notes, maturing in 2029 with a 3.00% interest rate, will be used to repay loans, redeem senior secured notes, and for general corporate purposes.
August 14, 2024 | 4:33 pm
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Core Scientific increased its offering of convertible senior notes from $350 million to $400 million, with an option for an additional $60 million. The proceeds will be used to repay loans, redeem senior secured notes, and for general corporate purposes.
The increase in the offering of convertible senior notes indicates strong investor demand and provides the company with additional capital to manage debt and fund operations. This positive financial maneuver is likely to boost investor confidence, leading to a short-term increase in stock price.
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