Bitcoin Standard Treasury to Go Public Via SPAC Deal

Dow Jones

2025/07/18

By Kelly Cloonan

Bitcoin Standard Treasury has agreed to merge with a special purpose acquisition company sponsored by an affiliate of Cantor Fitzgerald to bring its bitcoin treasury public.

BSTR said Thursday the deal includes a total private placement of up to $1.5 billion, including $400 million in common equity priced at $10 a share.

The placement also involves up to $750 million in convertible senior notes and $350 million in convertible preferred stock. It also includes a commitment of 5,021 bitcoin, as well as 25,000 bitcoin to be contributed by founding shareholders, both priced at $10 a share.

Cantor Equity Partners I will contribute up to about $200 million, subject to shareholder redemptions and priced at $10 a share, BSTR said.

The placement and bitcoin contributions would give BSTR the fourth largest public corporate bitcoin treasury, the company said. It expects to use the net proceeds from the deal to acquire additional bitcoin and build a suite of bitcoin-native capital-markets products and advisory services.

The combined company will be led by Chief Executive Adam Back and Chief Investment Officer Sean Bill. It is expected to trade under the symbol BSTR.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

July 17, 2025 14:34 ET (18:34 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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It also includes a commitment of 5,021 bitcoin, as well as 25,000 bitcoin to be contributed by founding shareholders, both priced at $10 a share. \n</p>\n<p>\n  <a href=\"https://laohu8.com/S/CEPO\">Cantor Equity Partners I</a> will contribute up to about $200 million, subject to shareholder redemptions and priced at $10 a share, BSTR said. \n</p>\n<p>\n  The placement and bitcoin contributions would give BSTR the fourth largest public corporate bitcoin treasury, the company said. It expects to use the net proceeds from the deal to acquire additional bitcoin and build a suite of bitcoin-native capital-markets products and advisory services. \n</p>\n<p>\n  The combined company will be led by Chief Executive Adam Back and Chief Investment Officer Sean Bill. It is expected to trade under the symbol BSTR. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to <a href=\"https://laohu8.com/S/KELYB\">Kelly</a> Cloonan at kelly.cloonan@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  July 17, 2025 14:34 ET (18:34 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"83042","symbol_name":"華夏比特幣-R","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2552439599","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2552439599","pubTimestamp":1752777240,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Bitcoin Standard Treasury has agreed to merge with a special purpose acquisition company sponsored by an affiliate of Cantor Fitzgerald to bring its bitcoin treasury public.BSTR said Thursday the deal includes a total private placement of up to $1.5 billion, including $400 million in common equity priced at $10 a share.The placement also involves up to $750 million in convertible senior notes and $350 million in convertible preferred stock. 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It also includes a commitment of 5,021 bitcoin, as well as 25,000 bitcoin to be contributed by founding shareholders, both priced at $10 a share. \n\n\nCantor Equity Partners I will contribute up to about $200 million, subject to shareholder redemptions and priced at $10 a share, BSTR said. \n\n\n  The placement and bitcoin contributions would give BSTR the fourth largest public corporate bitcoin treasury, the company said. It expects to use the net proceeds from the deal to acquire additional bitcoin and build a suite of bitcoin-native capital-markets products and advisory services. \n\n\n  The combined company will be led by Chief Executive Adam Back and Chief Investment Officer Sean Bill. It is expected to trade under the symbol BSTR. \n\n\n \n\n\n  Write to Kelly Cloonan at kelly.cloonan@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  July 17, 2025 14:34 ET (18:34 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}