Form 4: Magnetar Financial LLC Reports Conversion of Preferred Stock to Class A Common Stock in CoreWeave, Inc.
SEC Form 4 Filing
Magnetar Financial LLC and related entities report the conversion of Series B and C Preferred Stock to Class A Common Stock in CoreWeave, Inc. following the company's IPO.
Summary
- Magnetar Financial LLC, along with Magnetar Capital Partners LP, Supernova Management LLC, and David J. Snyderman, filed a Form 4 with the SEC.
- The filing reports changes in beneficial ownership of CoreWeave, Inc. [CRWV] securities.
- The key event was the automatic conversion of Series B and Series C Preferred Stock into Class A Common Stock on a 1-for-1 basis.
- This conversion occurred immediately prior to the closing of CoreWeave's initial public offering (IPO).
- The reporting entities disclaim beneficial ownership of the shares, except to the extent of their pecuniary interest.
- The shares are held directly by various Magnetar Funds, including Magnetar Constellation Master Fund, Ltd, Magnetar Xing He Master Fund Ltd, and others.
- David J. Snyderman is the manager of Supernova Management LLC, which is the general partner of Magnetar Capital Partners LP, which is the sole member of Magnetar Financial LLC.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to an IPO, indicating a neutral sentiment.
Future Outlook
The document does not contain any specific forward-looking statements regarding CoreWeave's future performance or guidance.
Industry Context
This filing reflects standard reporting procedures following a company's IPO, where preferred stock held by investors is often converted to common stock. This is a common practice to simplify the capital structure of the company and align the interests of all shareholders.
Stakeholder Impact
- The conversion of preferred stock to common stock simplifies the capital structure, potentially impacting shareholders by diluting ownership.
Key Dates
| Date | Description |
|---|---|
| 03/27/2025 | Date of jointly filed Form 3 with the SEC by the Reporting Persons. |
| 03/31/2025 | Date of the transaction involving the conversion of Preferred Stock to Common Stock. |
| 04/01/2025 | Date of the Form 4 filing. |
Keywords
Form 4, CoreWeave, Magnetar Financial, Preferred Stock, Common Stock, Beneficial Ownership, SEC Filing, IPO, Conversion
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