The shareholder vote on the merger between Bitcoin Standard Treasury Company (BSTR) and Cantor Equity Partners I (CEPO) has been pushed back to July 10, 2026. It’s the second postponement in a matter of weeks, with the vote originally scheduled for June 26 before being moved to July 2, and now sliding again.
The redemption deadline has also been extended to July 8. The delays stem from ongoing discussions around private placement financing.
What the merger actually involves
BSTR is set to debut on Nasdaq with 30,021 Bitcoin on its balance sheet. Of that total, 25,000 BTC comes from the founders. That group includes Adam Back, the cypherpunk legend whose work is literally cited in the Bitcoin whitepaper, along with Blockstream Capital. The remaining 5,021 BTC arrives via an in-kind private investment in public equity, known as a PIPE.
Instead of investors putting in cash that then gets used to buy Bitcoin, they’re contributing actual Bitcoin directly into the deal. That makes this the first major in-kind Bitcoin PIPE financing in a SPAC transaction.
