CoreWeave launches at-the-market offering of up to 35M shares

CoreWeave, Inc. (Nasdaq: CRWV) has established an at-the-market offering program under which it may sell up to 35,000,000 shares of Class A common stock, according to a press release from the Livingston, N.J.-based company.

The program uses a group of sales agents including Deutsche Bank Securities, Goldman Sachs & Co., J.P. Morgan Securities, Jefferies, Morgan Stanley, MUFG Securities Americas, Citigroup Global Markets, Credit Agricole Securities, SG Americas Securities, TD Securities, and Wells Fargo Securities. Deutsche Bank Securities, Goldman Sachs, Morgan Stanley, and Citigroup may also act as forward sellers under a collared forward sale agreement.

CoreWeave stated the program is intended to provide financing flexibility and to support its objective of migrating its enterprise credit profile toward investment grade. The company said it has no obligation to sell any shares under the program and will determine whether and when to do so based on market conditions, its capital structure objectives, and applicable restrictions.

CoreWeave has filed a registration statement, including a prospectus and prospectus supplement, with the Securities and Exchange Commission in connection with the offering.

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