Two Seas Capital Reports Net Share Sales and Waives Director Appointment Deadline

summarizeSummary

Two Seas Capital reported net sales of approximately 1.85 million shares of Core Scientific common stock and agreed to waive a deadline for the company to appoint an independent director.

check_boxKey Events

• Net Share Sales by Institutional Investor

  Two Seas Capital reported net sales of approximately 1,852,381 shares of Core Scientific common stock between March 4 and March 20, 2026.

• Director Appointment Deadline Waived

  Two Seas Capital agreed to waive a provision in a Cooperation Agreement, extending the deadline for Core Scientific to appoint an independent director from March 15, 2026, to May 30, 2026.

• Beneficial Ownership Maintained

  Despite the trading activity, Two Seas Capital's beneficial ownership remains at approximately 5.5% of Core Scientific's outstanding common stock.

auto_awesomeAnalysis

Two Seas Capital, a significant institutional investor, filed an amendment to its Schedule 13D, detailing a net reduction in its common stock holdings since early March. While its overall beneficial ownership percentage remains at 5.5%, the fund engaged in substantial selling activity, disposing of approximately 1.85 million net shares. Additionally, the filing reveals a waiver of a provision in a previously disclosed Cooperation Agreement, extending the deadline for Core Scientific to appoint an independent director until May 30, 2026. This governance update, alongside the net selling, provides new insights into the investor's evolving position and relationship with the company.