Cantor Equity Partners (CEP) Disclosed a $458.7 Million Bitcoin BTC$ Acquisition

Cantor Equity Partners (CEP) disclosed a $458.7 million bitcoin BTC$ acquisition as part of a pending merger

Cantor Equity Partners (CEP) disclosed a $458.7 million bitcoin BTC$ acquisition as part of a pending merger with Twenty One Capital, the BTC-focused investment vehicle backed by Tether, Bitfinex, and SoftBank.

The transaction is structured through a complex business combination involving Tether Investments, the El Salvador affiliate of stablecoin issuer Tether, and iFinex, the parent company of Bitfinex, the filing shows. As part of the deal, Tether purchased some 4,812 BTC at an average price of $95,319, with the tokens held in escrow and later to be sold to the merged company.

The company said it plans to have more than 42,000 BTC at launch. CEP shares are higher by 3.7% in after hours trading.

The firm’s shares soared in March after reports that the company was nearing a deal with several unnamed institutions to launch an investment vehicle focused on bitcoin. The company had previously disclosed plans to merge with a SPAC, in an earlier filing from December 2021.

The SPAC, which is being used to launch Twenty One Capital, is Cantor Fitzgerald’s (NYSE:CF’) Cantor Equity Partners, the preferred stock and capital markets subsidiary of the financial services firm. The company is also applying for listing on theナスダック小型株式市場ベンチャー市場.

The company is being launched by Brandon Lutnick—the son of U.S. Commerce Secretary and Cantor Fitzgerald chairman Howard Lutnick—via a SPAC structure using Cantor Equity Partners. The company will be led by Strike CEO Jack Mallers and majority-owned by Tether and Bitfinex’s parent company, iFinex. SoftBank will take a significant minority stake, the companies said

The company also disclosed that it is planning to apply for listing on theナスダック小型株式市場ベンチャー市場.

Cantor Equity Partners (CEP) disclosed a $458.7 million bitcoin BTC$ acquisition as part of a pending merger with Twenty One Capital, the BTC-focused investment vehicle backed by Tether, Bitfinex, and SoftBank.

The transaction is structured through a complex business combination involving Tether Investments, the El Salvador affiliate of stablecoin issuer Tether, and iFinex, the parent company of Bitfinex, the filing shows. As part of the deal, Tether purchased some 4,812 BTC at an average price of $95,319, with the tokens held in escrow and later to be sold to the merged company.

The company said it plans to have more than 42,000 BTC at launch. CEP shares are higher by 3.7% in after hours trading.

The firm’s shares soared in March after reports that the company was nearing a deal with several unnamed institutions to launch an investment vehicle focused on bitcoin. The company had previously disclosed plans to merge with a SPAC, in an earlier filing from December 2021.

The SPAC, which is being used to launch Twenty One Capital, is Cantor Fitzgerald’s (NYSE:CF’) Cantor Equity Partners, the preferred stock and capital markets subsidiary of the financial services firm. The company is also applying for listing on theナスダック小型株式市場ベンチャー市場.

The company is being launched by Brandon Lutnick—the son of U.S. Commerce Secretary and Cantor Fitzgerald chairman Howard Lutnick—via a SPAC structure using Cantor Equity Partners. The company will be led by Strike CEO Jack Mallers and majority-owned by Tether and Bitfinex’s parent company, iFinex. SoftBank will take a significant minority interest, the companies said.