Latham & Watkins Advises on Core Scientific’s Upsized US$550 Million Convertible Senior Notes Offering

Core Scientific, Inc. (NASDAQ: CORZ), a leader in digital infrastructure for bitcoin mining and high-performance computing, has announced the pricing of its offering of US$550 million aggregate principal amount of 0.00% convertible senior notes due 2031 in a private offering to persons reasonably believed to be 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$500 million aggregate principal amount of notes. The issuance and sale of the notes are scheduled to settle on December 5, 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$75 million principal amount of notes.

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