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Core Scientific Shareholders Challenge $9 Billion CoreWeave Merger
Core Scientific Shareholders Challenge $9 Billion CoreWeave Merger
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BTCCSquare news:
Two Seas Capital has launched a formal objection to Core Scientific's proposed $9 billion all-stock merger with CoreWeave, filing a letter with the SEC urging shareholders to reject the deal. The investment firm argues the transaction severely undervalues Core Scientific and exposes investors to unnecessary risk through CoreWeave's volatile stock.
The VIRTUAL shareholder meeting, scheduled for September 2025, will feature a contentious vote after Two Seas distributed GOLD proxy cards to counter the company's WHITE proxies. "This flawed process locks shareholders into an uncollared position while ignoring Core Scientific's true valuation," stated the firm's August 7th letter, confirming it will vote its 4.8% stake against the merger.
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