Yes, discount to purchase price to account for downside potential of crwv stock trading down resulting in a lower implied price since stock deal is fixed. 

Alternatively if crwv goes up Corz is worth more than the ~$20 implied price today 

> So, TLDR, $CRWV/$CORZ are now tied at the hip... and the arb between the two will vanish as the deal approaches a close (Q4).

BlokchainB

https://xcancel.com/penny_ether/status/1942251994082673075