According to CoinWorld news, Bitcoin Standard Treasury Company (BSTR) announced that it will go public by merging with Nasdaq-listed SPAC company Cantor Equity Partners I (CEPO), expected to be completed in the fourth quarter of 2025, with the merged stock code BSTR.
After the transaction, BSTR will hold 30,021 bitcoins, becoming the world's fourth largest publicly traded bitcoin treasury.
This transaction also includes up to $1.5 billion in private investment in public equity (PIPE), including:
$400 million in common stock financing (at $10 per share);
$750 million in convertible bond financing (conversion price $13);
$350 million in convertible preferred stock financing (partially subscribed).
Additionally, there are already 5,021 bitcoins subscribed from long-term holders, while founding shareholders (including Blockstream) will provide support with 25,000 bitcoins.
BSTR's CEO is Adam Back, a veteran in the bitcoin space, CEO of Blockstream and inventor of Hashcash, and the CIO is former hedge fund manager Sean Bill, dedicated to building bitcoin-native capital markets and treasury solutions for sovereign and state-owned enterprises.

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