Bitcoin Standard Treasury Company (BSTR) has announced a definitive agreement for a business combination with Cantor Equity Partners I, Inc. (CEPO), a special-purpose acquisition company. Upon closing, the combined entity will trade under the ticker symbol "BSTR." The transaction involves BSTR launching with 30,021 Bitcoin on its balance sheet, positioning it as the fourth largest public Bitcoin treasury. Additionally, the deal includes up to $1.5 billion of PIPE financing, marking the largest ever PIPE in conjunction with a Bitcoin Treasury SPAC merger, with CEPO contributing an additional ~$200 million, subject to redemptions. The net proceeds are intended for acquiring more Bitcoin and developing Bitcoin-native capital-markets products and advisory services. The transaction, which has received unanimous approval from the boards of BSTR and CEPO, is expected to close in the fourth quarter of 2025, pending CEPO shareholder approval and customary conditions.