TechFlame reports that Two Seas Capital is one of Core Scientific's largest shareholders. The investment company said that if the proposed merger between Core Scientific and CoreWeave is approved, Core Scientific executives will profit nearly $200 million from it. According to Two Seas Capital, it is this huge profit driver that explains why management supports this deal, which in their opinion is “flawed and undervalued.” In an agency filing on September 4, Two Seas Capital stated that Core Scientific executives' performance equity units will be fully redeemed as soon as the deal is completed, and they will continue to work at CoreWeave even after that. Two Seas Capital emphasized that Core Scientific previously advertised its performance equity plan as a “double trigger” program, meaning that equity will only be realized when a change in control of the company and an eligible dismissal occur at the same time, thereby aligning executive interests with shareholders' interests.