Tether leads the controlling stake in Twenty One Capital, and after the merger, SPAC holds 42.8% of the shares and holds more than half of the voting rights.

According to PANews on April 24, SEC documents show that after the SPAC merger and convertible bonds convertible, Tether will hold 42.8% of the shares, have 51.7% of the voting rights, and firmly hold a controlling position; SoftBank holds 24% of the shares and Bitfinex holds 16% of the shares. Among the company's total shareholding structure, PIPE and convertible bond investors account for more than 12%, while public SPAC shareholders account for only 2.7%. Twenty One Capital, a bitcoin company led by Jack Mallers, will hold 42,000 BTC after the completion of the SPAC merger, with a current market value of approximately US$3.564 billion. The initial BTC was contributed by Tether (18,713), Bitfinex (7,000) and SoftBank (10,500). The company repays the transition loan and injects capital into operations through US$340 million convertible bonds, US$171 million PIPE financing and US$100 million SPAC trust funds.