BSTR will be listed through a backdoor listing, holding more than 30,000 bitcoins, becoming the fourth largest listed BTC vault

CoinRank News: Bitcoin Standard Treasury Company (BSTR) announced that it will go public through a merger with Nasdaq-listed SPAC company Cantor Equity Partners I (CEPO), which is expected to be completed in the fourth quarter of 2025. The stock code after the merger will be BSTR. After the transaction is completed, BSTR will hold 30,021 bitcoins, becoming the worlds fourth largest listed bitcoin treasury. The transaction also includes up to $1.5 billion in private equity financing (PIPE), including: $400 million in common stock financing ($10 per share); $750 million in convertible bond financing (conversion price $13); $350 million in convertible preferred stock financing (partially subscribed). In addition, 5,021 bitcoins have been subscribed from long-term holders, and founding shareholders (including Blockstream) will provide 25,000 bitcoins in support. BSTR CEO is Adam Back, a Bitcoin veteran, Blockstream CEO and inventor of Hashcash, and CIO is Sean Bill, a former hedge fund manager. They are committed to building Bitcoin native capital markets and treasury solutions for sovereign and state-owned enterprises.