==Core Scientific (CORZ) to be acquired by CoreWeave (CRWV)

 

CoreWeave to acquire Core Scientific (CORZ) in an all-stock transaction implying a total equity value of $9 bln, expected to close in the fourth quarter of 2025 

• Under the terms of the merger agreement, Core Scientific (CORZ) stockholders will receive 0.1235 newly issued shares of CoreWeave Class A common stock for each share of Core Scientific common stock based on a fixed exchange ratio.
• Following CoreWeave's successful IPO in March 2025, this acquisition will help CoreWeave verticalize its data center footprint to future-proof revenue growth and enhance profitability.
• Through this acquisition, CoreWeave will own approximately 1.3 GW of gross power across Core Scientific's national data center footprint1 with an incremental 1 GW+ of potential gross power available for expansion.
• As of July 3, 2025, the agreed-upon exchange ratio implies a total equity value of approximately $9.0 billion.
• This is calculated on a fully diluted basis and based on CoreWeave's 5-day VWAP. This represents a $20.40 per share value based on the closing price of CoreWeave Class A common stock as of July 3, 2025, and a premium of approximately 66% to the unaffected Core Scientific closing share price of $12.30 on June 25, 2025.
• The final value will be determined at the time of transaction close.
• Upon close, CoreWeave expects Core Scientific's stockholders' ownership of the combined company will be less than 10%.

IPOs this week : March 24 - 28, 25 (wk 13)

CoreWeave – Livingston, N.J., 49 million shares, priced at $47-$55, managed by Morgan Stanley JP Morgan. Proposed Nasdaq symbol CRWV. Business: Provides cloud computing services with data centers optimized for AI workloads.

OMS Energy Technologies – Singapore, 5.6 million shares, priced at $8-$10, managed by Roth Cap.. Proposed Nasdaq symbol OMSE. Business: Singapore-based manufacturer of surface wellhead systems and oil country tubular goods.

Bgin Blockchain – Singapore, 6.3 million shares, priced at $7-$9, managed by Chardan Benchmark. Proposed Nasdaq symbol BGIN. Business: Makes equipment for cryptocurrency mining with a focus on alternative currencies.

Apimeds Pharmaceuticals – Hopewell, N.J., 4.5 million shares, priced at $4-$5, managed by D. Boral Capital. Proposed NYSE American symbol APUS. Business: Clinical stage biotech developing bee venom-based treatment for inflammation.

Vantage – Singapore, 3.3 million shares, priced at $4-$5, managed by Network 1. Proposed NYSE American symbol VNTG. Business: Singapore-based shipbroking company focused on petroleum products.

FatPipe – Salt Lake City, .7 million shares, priced at $5.75-$7.75, managed by D. Boral Capital. Proposed Nasdaq symbol FATN. Business: Provides network software solutions for enterprises.