Core Scientific Shareholders Vote Against Acquisition by CoreWeave

CoreWeave's planned acquisition of data center provider Core Scientific has been brought to a sudden stop. An SEC filing from Core Scientific published today, October 30, stated that at a "special meeting" to discuss the acquisition, the "requisite Company stockholders did not approve the Merger Agreement Proposal."

Under the terms of the merger agreement, Core Scientific stockholders were to receive 0.1235 newly issued shares of CoreWeave Class A common stock for each share of Core Scientific common stock. On close, Core Scientific’s stockholders would have owned less than 10 percent of the combined company.

With the acquisition now officially off the table, CEO Intrator issued a statement reading: "We respect the views of Core Scientific stockholders and look forward to continuing our commercial partnership. CoreWeave’s strategy remains unchanged. We will continue to execute with discipline against our roadmap to create long-term shareholder value, including through opportunistic and strategic M&A.”