Roth Capital downgraded Core Scientific (CORZ) to Neutral from Buy with an unchanged price target of $20 after the company signed an agreement under which CoreWeave (CRWV) will acquire it in an all-stock transaction. Under the terms of the merger agreement, Core Scientific stockholders will receive 0.1235 newly issued shares of CoreWeave for each share of Core Scientific common stock based on a fixed exchange ratio. This represents a $20.40 per share value based on the closing price of CoreWeave as of July 3.
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