Latham & Watkins Advises on Core Scientific’s Upsized US$400 Million Convertible Senior Notes Offering

Core Scientific, Inc. (NASDAQ: CORZ), a leader in digital infrastructure for bitcoin mining and high-performance computing, announced the pricing of its offering of US$400 million aggregate principal amount of 3.00% convertible senior notes due 2029 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. The offering size was increased from the previously announced offering size of US$350 million aggregate principal amount of notes. The issuance and sale of the notes are scheduled to settle on August 19, 2024, subject to customary closing conditions. Core Scientific also granted the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional US$60 million principal amount of notes.

Latham & Watkins LLP represents the initial purchasers in the offering with a capital markets team led by New York/Los Angeles partner Greg Rodgers and New York partner Andrew Blumenthal, with associates Ryan Gold, Andrew Bentz, Adam Weber, Karysa Norris, and Tess Winston. Advice was also provided on tax matters by New York partner Aaron Bernstein, with associate James Aldred.