Two Seas Capital Reports Net Share Sales and Waives Director Appointment Deadline
CORZ has more than doubled off its 52-week low of $6.2.
Summary
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.
Key Events · Ownership and Investor Activity · CORZ
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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.
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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.
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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.
Analysis · CORZ · Crypto Assets
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.
At the time of this filing, CORZ was trading at $16.04 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $5B. The 52-week trading range was $6.20 to $23.63. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.