PANews reported on July 17 that, according to Businesswire, BSTR Holdings Inc. (BSTR) announced that it has reached a final business merger agreement with Cantor Equity Partners I, Inc. (Nasdaq: CEPO). Cantor Equity Partners I, Inc. is a special purpose acquisition company initiated by an affiliate of Cantor Fitzgerald, a financial services and real estate services holding company. After the transaction is completed, the merged company is expected to trade under the stock ticker "BSTR".
BSTR stated that it will hold 30,021 bitcoins on its balance sheet at launch, which will become the fourth-largest listed bitcoin reserve, and will obtain up to $1.5 billion in PIPE financing after going public. This is the largest PIPE financing announced in a SPAC merger transaction with bitcoin reserves to date, and the SPAC will additionally contribute approximately $200 million in funds depending on redemption.
