07:58 AM EDT, 08/13/2024 (MT Newswires) -- Core Scientific ( CORZ ) said Tuesday it plans to offer $350 million worth of convertible senior notes due 2029 in a private offering to institutional investors.

The company said it expects to grant the initial purchasers of the notes an option to buy up to an additional $52.5 million worth of notes.

The notes will mature on Sept. 1, 2029, unless earlier converted, redeemed, or repurchased.

Shares of Core Scientific ( CORZ ) were down 7% in recent premarket activity.

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