What's Going With Core Scientific Stock Wednesday?

Core Scientific, Inc. CORZ shares are moving higher on Wednesday. The company announced that it increased its offering of convertible senior notes from $350 million to $400 million.

The Details: The company has also given initial purchasers the option to buy up to an extra $60 million in notes.

The senior unsecured notes, which are payable semi-annually, are set to mature on September 1, 2029 unless redeemed earlier, and carry an interest rate of 3.00%.

Core Scientific plans to use the proceeds to repay outstanding loans and redeem senior secured notes. The remaining funds will be used for general corporate purposes.

How To Buy Core Scientific Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Core Scientific CORZ's case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

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CORZ Price Action: At the time of publication, Core Scientific stock is moving 4.55% higher at $8.84 per data from Benzinga Pro.

Image: 8921520 from Pixabay.