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Two Seas Capital, Core Scientific's Largest Active Shareholder, Announces Intention to Vote Against the Proposed Sale to CoreWeave
Two Seas Capital LP ("Two Seas" or "we"), an alternative investment management firm and the largest active shareholder of Core Scientific, Inc. ("Core Scientific" or the "Company") (NASDAQ: CORZ), today announced its opposition to the Company's proposed sale to CoreWeave, Inc. ("CoreWeave") (NASDAQ: CRWV) on the terms announced on July 7, 2025.
About this update from Core Scientific, Inc.
[{"type":"text","content":"Issues Open Letter to Core Scientific Shareholders Outlining Its Belief that the Proposed Transaction Materially Undervalues Core Scientific and Unnecessarily Exposes Shareholders to Substantial Economic Risk","length":208,"tagName":"p","attribs":{}},{"type":"text","content":"NEW YORK, Aug. 7, 2025 /PRNewswire/ -- Two Seas Capital LP ("Two Seas" or "we"), an alternative investment management firm and the largest active shareholder of Core Scientific, Inc. ("Core Scientific" or the "Company") (NASDAQ: CORZ), today announced its opposition to the Company's proposed sale to CoreWeave, Inc. ("CoreWeave") (NASDAQ: CRWV) on the terms announced on July 7, 2025.","length":439,"tagName":"p"},{"type":"image","alt":"Two Seas Capital Logo","displaySize":"","headline":null,"caption":"Two Seas Capital Logo","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":226,"url":"https://media.zenfs.com/en/prnewswire.com/91677df585d94ff74b00763b88a0f029"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/HCgRZ17bhNLSmvwkU8iMtA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTM5ODtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/91677df585d94ff74b00763b88a0f029","width":400,"height":226}},"href":"https://mma.prnewswire.com/media/2746337/Two_Seas_Capital_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Two Seas also released the following open letter to fellow Core Scientific shareholders explaining why it opposes the transaction.","length":130,"tagName":"p"},{"type":"text","content":"August 7, 2025","length":14,"tagName":"p"},{"type":"text","content":"Dear Fellow Core Scientific Shareholders:","length":41,"tagName":"p"},{"type":"text","content":"Two Seas Capital LP ("Two Seas" or "we") is an alternative investment management firm that has been a committed investor in, and staunch advocate of, Core Scientific, Inc. ("Core Scientific" or the "Company") since 2022. We were early members of the ad hoc equity committee, supported the Company's emergence by joining in the rights offering in early 2024, participated in both convertible note issuances, and have grown our equity stake over the past 18 months. Today, we beneficially own 19,122,842 shares of Core Scientific's common stock, representing approximately...