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Mining Company Core Scientific Terminates Merger with CoreWeave
Summary: According to reports, the US-listed mining company Core Scientific has announced the termination of its merger with CoreWeave. On August 8th, Core Scientific's largest shareholder, Two Seas Capital, announced that they would vote against the all-stock sale to CoreWeave, citing undervaluation and serious structural flaws in the deal. In July of this year, CoreWeave announced ...
According to reports, the US-listed mining company Core Scientific has announced the termination of its merger with CoreWeave.
On August 8th, Core Scientific's largest shareholder, Two Seas Capital, announced that they would vote against the all-stock sale to CoreWeave, citing undervaluation and serious structural flaws in the deal.
In July of this year, CoreWeave announced the acquisition of digital infrastructure company Core Scientific through an all-stock transaction. The agreed upon value per share in this transaction was $20.40. The exchange ratio implied a valuation of approximately $9 billion for the company.
