Core Scientific proposes merger with CoreWeave in all-stock deal at 71% premium

Core Scientific, Inc./tx

Stockholders to receive 0.1235 CoreWeave shares per CORZ share — 71% premium to 10-day VWAP as of June 25, 2025.
Implies 8.9% pro forma ownership in combined company; CoreWeave initially offered 0.092 exchange ratio.
Board unanimously recommends FOR vote at special meeting on October 30, 2025; HSR waiting period expired.
Expected $500mm+ in annual GAAP cost savings by end of 2027 via lease elimination and operational synergies.
De-risks Core Scientific's ~$7.3bn pipeline CapEx and eliminates need to raise substantial debt financing.

item 7.01 item 9.01

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accession 0001140361-25-038207

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