BlockBeats news, on August 8, BSTR Holdings Inc. (BSTR) announced that it has raised an additional $65 million, approximately equivalent to 555 bitcoins at the current bitcoin price. This funding will be in place after the completion of the merger between BSTR and CEPO.
On July 17, BSTR Holdings Inc. announced that it has reached a definitive merger agreement with Cantor Equity Partners I, Inc. (Nasdaq: CEPO). CEPO is a special purpose acquisition company (SPAC) initiated by affiliates of Cantor Fitzgerald, a leading global financial and real estate services holding company. After the merger is completed, the combined company will trade under the ticker symbol 'BSTR'. BSTR will launch its balance sheet with 30,021 bitcoins and is expected to become the fourth largest publicly listed bitcoin treasury in the world. It also plans to secure up to $1.5 billion in PIPE (Private Investment in Public Equity) financing, which is the largest PIPE financing announced to date related to a SPAC merger involving a bitcoin treasury. Additionally, the SPAC will contribute approximately $200 million, depending on shareholder redemptions.
