BSTR seeks revised Cantor SPAC merger terms
- The Bitcoin Standard Treasury Company (BSTR) and Cantor Equity Partners I are renegotiating their 2025 SPAC merger agreement.
- The planned shareholder meeting has been postponed, delaying the proposed public listing despite prior SEC recognition of the registration statement.
- The companies said they want revised merger terms that better reflect current market conditions.
The Bitcoin Standard Treasury Company (BSTR), backed by more than 30,000 Bitcoin (CRYPTO:BTC), and Cantor Equity Partners I have ended the original terms of their 2025 SPAC merger agreement and will negotiate a revised deal for a planned public listing.
The companies announced the change after the US Securities and Exchange Commission recognised the merger registration statement in June, although they have now postponed the shareholder meeting that was scheduled to vote on the transaction.
“A Bitcoin treasury SPAC doesn’t look so good now,” said SPACInsider founder and chief executive Kristi Marvin.
The original agreement included more than 30,000 Bitcoin and US$1.5 billion in Private Investment in Public Equity financing, while both companies said the revised terms are intended to better reflect current market conditions, with further details to be announced later.
The revised negotiations delay the expected public listing, and as neither BSTR nor Cantor Equity Partners I is publicly traded, there was no share price reaction following the announcement.
According to Institutional Investor, Cantor has broadened its SPAC strategy beyond Bitcoin treasury companies, having previously supported transactions involving firms such as Twenty One Capital, which completed a US$3.6 billion merger in 2025.
The announcement followed the recent public listing of Securitize through Cantor Equity Partners II, with the tokenisation company beginning trading on the New York Stock Exchange before its shares fell to US$7.42 on Wednesday from US$12.30 on July 2.
At the time of reporting, Bitcoin price was $62,191.70.
