Core Scientific Acquisition of Polaris for up to $461 Million
Cooley advised Core Scientific, a leader in digital infrastructure for high-density colocation (“HDC”), on its agreement to acquire Polaris DS LLC, which controls 440 megawatts (“MW”) of gross power under an energy agreement with Oklahoma Gas & Electric, for up to $461 million in cash.
The acquisition is part of the company’s multi-tiered strategy to scale its Muskogee, Oklahoma campus to approximately 1.5 gigawatt (“GW”) of gross power, or approximately 1.0 GW of leasable power.
The transaction was announced publicly in the following press release, which can be viewed here.
Lead team: Bill Roegge, Daniel Peale, Josh Holleman, Alanna Zuchelli, Eileen Marshall and Seth Holoweiko led the Cooley team advising Core Scientific.
Supporting team: Asal Yunusov, Calvin Lee, Jeremy Morrison, Sharon Connaughton, Steve Flores, Len Jacoby and Sam Rosenblatt provided invaluable support.
Cooley previously advised Core Scientific on its $3.3 billion aggregate principal amount of 7.750% senior secured notes in April 2026, $1 billion loan facility with Morgan Stanley and JPMorgan Chase Bank in March 2026, $625 million convertible senior notes in December 2024, $460 million convertible senior notes in August 2024 and its merger with SPAC Power & Digital Infrastructure Acquisition Corp. in August 2021.
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