10:58 AM EDT, 09/29/2025 (MT Newswires) -- (Updates with CoreWeave's ( CRWV ) reply in the fifth paragraph, updates stock moves in the last paragraph.)

Core Scientific's ( CORZ ) shareholder Two Seas Capital said Monday it has filed a definitive proxy statement with the US Securities and Exchange Commission regarding its opposition to the company's planned sale to CoreWeave ( CRWV ) .

Two Seas also issued a letter to Core Scientific ( CORZ ) shareholders explaining its opposition to the deal under the planned terms, which include "an inadequate valuation, a deficient structure and a flawed process."

The investment firm said it is urging Core Scientific ( CORZ ) shareholders to vote against the deal.

Two Seas said there is "strategic merit" to the merger of Core Scientific ( CORZ ) and CoreWeave ( CRWV ) but "there is no reason for Core Scientific ( CORZ ) shareholders to support this transaction at this exchange ratio and with this structure."

CoreWeave ( CRWV ) declined to comment in reply to a request sent by MT Newswires.

Core Scientific ( CORZ ) didn't immediately respond to a request for comment by MT Newswires.

Core Scientific ( CORZ ) shares were up 2.3% in recent trading, and CoreWeave ( CRWV ) was up 3%.

Price: 17.27, Change: +0.41, Percent Change: +2.46