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Joele Frank handles Core Scientific as the data center infrastructure company gets acquired by CoreWeave in a stock deal valued in the $9B range.
Core Scientific, which emerged from Chapter 11 in 2024, operates 10 digital asset mining facilities in Georgia, Kentucky, North Carolina, North Dakota, Oklahoma and Texas that support AI-related workloads.
“Verticalizing the ownership of Core Scientific’s high-performance data center infrastructure enables CoreWeave to significantly enhance operating efficiency and de-risk our future expansion, solidifying our growth trajectory,” according to CoreWeave CEO & co-founder Michael Intrator.
CoreWeave, which went public in March at $40 per share, now trades at $161.74.
Adam Sullivan, CEO of Core Scientific, said the deal delivers the “greatest value for our shareholders, who will be able to participate in the tremendous upside potential of the combined company.” Those shareholders will own less than 10 percent of the combined company.
Joele Frank, Wilkinson Brimmer Katcher partners Joseph Sala and Mahmoud Siddig represent Core Scientific.
BGR Group represents Noble Supply and Logistics as it files for Chapter 11 due to a change in its weapons support contract with the Defense Logistics Agency.
C Street Advisory Group is handling the Chapter 11 filing of LIV Golf following the move by Saudi Arabia’s Public Investment Fund to pull the financial plug on the League. (Updated)
Teneo handles Bamboo Insurance Services as the Midvale, UT-based marketer of homeowner policies files a Form S-1 statement with the SEC for an initial public offering.
FTI Consulting handles West Marine as the nation’s leading retailer of marine parts and accessories for boating, fishing and sailing enthusiasts emerges from Chapter 11 bankruptcy.
Throughline Global Advisors represents Principal Mineral as it acquires Conductive Group, manufacturer of advanced materials for the aerospace, telecommunications and electronics sectors.
