The shareholder vote that could create the fourth-largest publicly traded Bitcoin treasury is now on the calendar. Cantor Equity Partners I, Inc. (CEPO) has set June 26 as the date for shareholders to approve the merger that would take Bitcoin Standard Treasury Company public on Nasdaq under the ticker BSTR.
If approved, the combined entity would launch with 30,021 BTC on its balance sheet and up to $1.5 billion in PIPE financing behind it.
What the deal looks like
BSTR Holdings Inc. is going public through a SPAC, or special purpose acquisition company, which is essentially a blank-check firm that exists solely to merge with a private company and bring it to market. The SPAC in question is Cantor Equity Partners I, and its board has unanimously recommended that shareholders vote yes on the deal.
The financing package includes an unusual crypto-native twist. Approximately $600 million of the PIPE contributions will come in the form of actual Bitcoin, not cash. Specifically, investors are contributing 5,021 BTC as an in-kind investment. The rest of the up to $1.5 billion in financing follows more traditional structures.
