Two Seas Capital Comments on Outcome of Special Meeting of Core Scientific Shareholders

Rhea-AI Summary

Two Seas Capital (NASDAQ:CORZ) commented on the outcome of Core Scientific's special meeting held on October 30, 2025, where shareholders rejected the company's proposed sale to CoreWeave (NASDAQ:CRWV).

Two Seas, identified as one of Core Scientific's largest shareholders, thanked fellow shareholders for rejecting the transaction and reiterated confidence in Core Scientific's management and strategy. The statement urged focus on growing the power pipeline, securing additional contracts, and building next-generation data centers, and said Two Seas will work constructively with the company to pursue long-term value creation.

Positive

• Shareholders rejected sale to CoreWeave on Oct 30, 2025
• Two Seas identified as one of Core Scientific's largest shareholders
• Management urged to focus on growing the power pipeline and securing contracts
• Two Seas expressed confidence in CEO Adam Sullivan and management team

Negative

• None.

Appreciates Shareholders' Thoughtful Consideration and Reiterates Enthusiasm About Company's Future Prospects

NEW YORK, Oct. 30, 2025 /PRNewswire/ -- Two Seas Capital LP ("Two Seas" or "we"), an alternative investment management firm and one of the largest shareholders of Core Scientific, Inc. ("Core Scientific" or the "Company") (NASDAQ: CORZ), today commented on the outcome of the special meeting of shareholders (the "Special Meeting") that was held today in connection with the Company's proposed sale to CoreWeave, Inc. ("CoreWeave") (NASDAQ: CRWV).

Sina Toussi, Founder and Chief Investment Officer of Two Seas, issued the following statement:

"We thank our fellow shareholders for their engagement during this process and their support in rejecting this transaction at the Special Meeting. We appreciate the fact that so many of you recognize the value of Core Scientific and share our enthusiasm for the Company's bright future.

Now is the time to focus on the road ahead and for Core Scientific's management team to get back to the important work of growing the Company's power pipeline, securing additional contracts and building next generation data centers. Core Scientific has been a pioneer in the AI infrastructure build-out and we are excited for this growth story to continue.

The value creation initiatives outlined today by Core Scientific's CEO, Adam Sullivan, reinforced our confidence in the Company's executive management team and their ability to capitalize on the Company's outstanding assets and competitive advantages. We look forward to working constructively with the Company to help Core Scientific realize its abundant opportunities and create significant long-term value for shareholders."

About Two Seas Capital LP

Two Seas, founded in 2020 and led by Chief Investment Officer Sina Toussi, specializes in event-driven investing anchored by rigorous fundamental research and a targeted focus on special situations. With over $2 billion in assets under management, Two Seas' approach is designed to uncover market inefficiencies where value can be realized through the resolution of legal and regulatory events. The Two Seas team is highly regarded for its rigorous due diligence and its ability to translate complex and dynamic scenarios into actionable investment opportunities.

Contacts

Media
Steve Bruce / Taylor Ingraham / Keely Gispan
ASC Advisors
twoseas@ascadvisors.com
(203) 992-1230

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SOURCE Two Seas Capital

FAQ

What was decided at the Core Scientific (CORZ) special meeting on October 30, 2025?

Shareholders voted to reject the proposed sale of Core Scientific to CoreWeave on October 30, 2025.

What is Two Seas Capital's position on Core Scientific (CORZ) after the special meeting?

Two Seas thanked shareholders for rejecting the transaction and reiterated confidence in Core Scientific's future and management.

How will Core Scientific (CORZ) management proceed after the rejected sale, according to Two Seas?

Two Seas said management should focus on growing the power pipeline, securing additional contracts, and building next-generation data centers.

Who is the Core Scientific executive Two Seas cited in its statement about CORZ?

Two Seas specifically referenced Core Scientific CEO Adam Sullivan and expressed confidence in his leadership.

Will Two Seas Capital continue to work with Core Scientific (CORZ) after the special meeting?

Yes; Two Seas said it looks forward to working constructively with Core Scientific to create long-term shareholder value.