Two Seas Capital Reduces Stake in Core Scientific, Falls Below 5% Ownership

summarizeSummary

Institutional investor Two Seas Capital has significantly reduced its stake in Core Scientific, selling approximately $71.7 million in shares and dropping below 5% beneficial ownership.

check_boxKey Events

• Significant Stake Reduction

  Two Seas Capital LP, along with its affiliates, reported a reduction in beneficial ownership of Core Scientific, Inc. to 4.4% of outstanding common stock, down from 5.0% previously. This means they are no longer a 5% owner.

• Substantial Share Sales

  Since April 16, 2026, the reporting persons executed net sales of approximately 3.1 million shares of common stock, totaling approximately $71.7 million. These transactions occurred at weighted average prices ranging from $19.737 to $21.55 per share.

• Timing with Debt Offering

  This divestment by a major institutional investor follows closely on the heels of Core Scientific's indirect subsidiary announcing a proposed $3.3 billion senior secured notes offering on April 21, 2026.

auto_awesomeAnalysis

Two Seas Capital LP, a significant institutional investor, has reduced its beneficial ownership in Core Scientific, Inc. to 4.4%, falling below the 5% threshold. This reduction follows a series of net sales totaling approximately $71.7 million since April 16, 2026. The timing of this divestment is notable as it occurs shortly after Core Scientific's indirect subsidiary announced a proposed $3.3 billion senior secured notes offering, potentially signaling a re-evaluation of the investment thesis by Two Seas Capital in light of the company's recent financing activities.