Magnetar monetizes 200,000 CRWV shares via forward sale contracts
Rhea-AI Filing Summary
Magnetar-related entities entered into variable pre-paid forward sale contracts covering a total of 200,000 shares of CoreWeave, Inc. (CRWV), with settlement obligations on June 19, 2026. The contracts require delivery of up to the pledged shares on the Settlement Date depending on the Nasdaq closing price relative to a $120.00 floor and a $185.00 cap. The reporting group pledged the shares to secure the obligations but retained voting and dividend rights during the pledge term.
The pledged shares are held across several Magnetar vehicles and related entities and were exchanged for aggregate cash proceeds of approximately $23,145,666.82 received from the counterparty when the contracts were entered into. The Form identifies the reporting persons as investment-adviser and affiliated entities and includes disclaimers of beneficial ownership except for pecuniary interests.
Positive
- Received substantial upfront cash proceeds of approximately $23,145,666.82 across the contracts
- Retained voting and dividend rights in the pledged Class A common stock during the pledge term
Negative
- Pledged and encumbered 200,000 Class A shares, creating a contingent delivery obligation on June 19, 2026
- Potential transfer of all pledged shares if the Settlement Price is at or below the $120.00 Floor Price
Insights
TL;DR: Magnetar entities monetized 200,000 CoreWeave shares via forward sale contracts, retaining voting and dividend rights while creating a potential delivery obligation on June 19, 2026.
These structures are a common liquidity tool: the reporting entities received cash up front (aggregate about $23.15M) in exchange for contingent obligations to deliver shares depending on the Settlement Price relative to the $120 floor and $185 cap. The contracts are documented as variable pre-paid forward sale contracts and the pledged shares remain subject to the counterparty claim until settlement.
The arrangement preserves voting and dividend rights during the pledge, so governance influence is maintained in the near term. Material items to monitor include the June 19, 2026 Settlement Date and the Settlement Price relative to the stated Floor and Cap, which determine the number of shares deliverable and the ultimate transfer magnitude.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Forward sale contract (obligation to sell) | 12,149 | $0.00 | -- |
| Other | Forward sale contract (obligation to sell) | 55,200 | $0.00 | -- |
| Other | Forward sale contract (obligation to sell) | 7,237 | $0.00 | -- |
| Other | Forward sale contract (obligation to sell) | 748 | $0.00 | -- |
| Other | Forward sale contract (obligation to sell) | 16,132 | $0.00 | -- |
| Other | Forward sale contract (obligation to sell) | 22,148 | $0.00 | -- |
| Other | Forward sale contract (obligation to sell) | 27,762 | $0.00 | -- |
| Other | Forward sale contract (obligation to sell) | 6,273 | $0.00 | -- |
| Other | Forward sale contract (obligation to sell) | 23,616 | $0.00 | -- |
| Other | Forward sale contract (obligation to sell) | 14,554 | $0.00 | -- |
| Other | Forward sale contract (obligation to sell) | 11,725 | $0.00 | -- |
| Other | Forward sale contract (obligation to sell) | 2,456 | $0.00 | -- |
Footnotes (1)
- The entity holding the indicated number of shares of Class A common stock (the "Common Stock") of CoreWeave Inc. (the "Issuer") entered into a variable pre-paid forward sale contract with a third party counterparty. The contract obligates the entity to deliver to the counterparty up to the indicated number of shares on June 19, 2026 (the "Settlement Date"). The entity pledged the indicated number of shares, as reported in Column 5 (the "Pledged Shares"), to the counterparty to secure its obligations under the contract and retained voting and dividend rights in the Pledged Securities during the term of the pledge. The number of shares deliverable to the counterparty on the Settlement Date is to be determined as follows: (a) if the price at the Nasdaq closing time on June 18, 2026 (the "Settlement Price") is less than or equal to $120.00 (the "Floor Price"), the entity will deliver all Pledged Shares; (b) if the Settlement Price is between the Floor Price and $185.00 (the "Cap Price"), the entity will deliver a number of shares having a value (based on the Settlement Price) equal to the number of Pledged Shares multiplied by the Floor Price; and (c) if the Settlement Price is greater than the Cap Price, the entity will deliver a number of shares having a value (based on the Settlement Price) equal to the number of Pledged Shares multiplied by the sum of the Settlement Price and the difference between Cap Price and the Floor Price. Magnetar Financial LLC ("Magnetar Financial") serves as the investment adviser to each of CW Opportunity LLC, CW Opportunity 2 LP, Magnetar Capital Master Fund, Ltd, Magnetar Constellation Master Fund, Ltd, Magnetar Longhorn Fund LP, Magnetar SC Fund Ltd, Magnetar Xing He Master Fund Ltd, Purpose Alternative Credit Fund - F LLC and Purpose Alternative Credit Fund - T LLC, the general partner of Magnetar Structured Credit Fund, LP and the manager of Magnetar Alpha Star Fund LLC and Magnetar Lake Credit Fund LLC (collectively, the "Magnetar Funds"). Magnetar Capital Partners LP ("Magnetar Capital Partners") is the sole member and parent holding company of Magnetar Financial. Supernova Management LLC ("Supernova Management") is the general partner of Magnetar Capital Partners. The administrative manager of Supernova Management is David J. Snyderman, a citizen of the United States of America. Each of the Magnetar Funds, Magnetar Financial, Magnetar Capital Partners, Supernova Management and David J. Snyderman disclaims beneficial ownership of these shares of Common Stock of the Issuer, except to the extent of its or his pecuniary interest therein. These securities are held directly by CW Opportunity 2 LP. These securities are held directly by CW Opportunity LLC. These securities are held directly by Magnetar Alpha Star Fund LLC. These securities are held directly by Magnetar Capital Master Fund, Ltd. These securities are held directly by Magnetar Constellation Master Fund, Ltd. These securities are held directly by Magnetar Lake Credit Fund LLC. These securities are held directly by Magnetar Longhorn Fund LP. These securities are held directly by Magnetar SC Fund Ltd. These securities are held directly by Magnetar Structured Credit Fund, LP. These securities are held directly by Magnetar Xing He Master Fund Ltd. These securities are held directly by Purpose Alternative Credit Fund - F LLC. These securities are held directly by Purpose Alternative Credit Fund - T LLC. In exchange for assuming the obligation referenced in footnotes 1 and 2, the entity received a cash payment from the counterparty in an aggregate amount of $1,405,983.53 on or about the date of entry into the contract. In exchange for assuming the obligation referenced in footnotes 1 and 2, the entity received a cash payment from the counterparty in an aggregate amount of $6,388,204.04 on or about the date of entry into the contract. In exchange for assuming the obligation referenced in footnotes 1 and 2, the entity received a cash payment from the counterparty in an aggregate amount of $837,525.95 on or about the date of entry into the contract. In exchange for assuming the obligation referenced in footnotes 1 and 2, the entity received a cash payment from the counterparty in an aggregate amount of $86,564.79 on or about the date of entry into the contract. In exchange for assuming the obligation referenced in footnotes 1 and 2, the entity received a cash payment from the counterparty in an aggregate amount of $1,866,929.50 on or about the date of entry into the contract. In exchange for assuming the obligation referenced in footnotes 1 and 2, the entity received a cash payment from the counterparty in an aggregate amount of $2,563,151.15 on or about the date of entry into the contract. In exchange for assuming the obligation referenced in footnotes 1 and 2, the entity received a cash payment from the counterparty in an aggregate amount of $3,212,850.01 on or about the date of entry into the contract. In exchange for assuming the obligation referenced in footnotes 1 and 2, the entity received a cash payment from the counterparty in an aggregate amount of $725,963.84 on or about the date of entry into the contract. In exchange for assuming the obligation referenced in footnotes 1 and 2, the entity received a cash payment from the counterparty in an aggregate amount of $2,733,040.33 on or about the date of entry into the contract. In exchange for assuming the obligation referenced in footnotes 1 and 2, the entity received a cash payment from the counterparty in an aggregate amount of $1,684,310.17 on or about the date of entry into the contract. In exchange for assuming the obligation referenced in footnotes 1 and 2, the entity received a cash payment from the counterparty in an aggregate amount of $1,356,914.72 on or about the date of entry into the contract. In exchange for assuming the obligation referenced in footnotes 1 and 2, the entity received a cash payment from the counterparty in an aggregate amount of $284,228.79 on or about the date of entry into the contract.