Core Scientific's third largest shareholder opposes CoreWeave acquisition

Core Scientific's third largest shareholder, Two Seas Capital (holding 6.3% of the shares), opposes the all stock acquisition proposal put forward by AI cloud service provider CoreWeave, arguing that the transaction valuation is too low and biased towards the acquirer, failing to reflect the company's value. Two Seas is calling on the board to seek a higher offer and plans to work with other shareholders to block the transaction.