Core Scientific Strengthens Balance Sheet; Repays $267M In Debt, Reducing Interest Rate From ~12.5% To 3%
Portfolio Pulse from Benzinga Newsdesk
Core Scientific, Inc. (NASDAQ:CORZ) has repaid $267 million in debt, significantly reducing its interest rate from approximately 12.5% to 3%. This move strengthens its balance sheet and increases cash on hand for growth initiatives.
August 20, 2024 | 8:11 pm
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Core Scientific has repaid $267 million in debt, reducing its interest rate from approximately 12.5% to 3%. This strengthens its balance sheet and increases cash on hand for growth initiatives.
The repayment of $267 million in debt and reduction in interest rates from 12.5% to 3% significantly strengthens Core Scientific's financial position. This move not only reduces financial burden but also frees up cash for growth initiatives, which is likely to positively impact the stock price in the short term.
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