A $1.2 billion put right on CoreWeave's legacy preferred stock ended on Sep 25, 2025

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

CoreWeave said a put right, which let holders of its legacy Series C convertible preferred stock require it to repurchase their shares, ended automatically on Sep 25, 2025, when a termination event tied in part to its Class A share price occurred. On the first trading day after Mar 31, 2027, that right would have required a repurchase of the shares in cash at $38.95 a share, an aggregate payment of $1.2 billion. CoreWeave said it had classified the shares as mezzanine equity because they were redeemable outside its control, and that once the put right ended its redeemable Class A common stock was reclassified into Class A common stock within stockholders' equity, increasing stockholders' equity by $1.2 billion. The source is CoreWeave's 8-K, a US company's report of a material event, with a date of report of Oct 6, 2025.1^,2^,3^,4^,5