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Bitcoin treasury company BSTR completed $65 million in financing and plans to hold over 30,000 BTC after the business merger.
PANews, August 8 news, according to the latest announcement from The Bitcoin Standard Treasury Company (BSTR), the company has completed an additional $65 million financing, equivalent to approximately 555 Bitcoins (calculated at the current price of $116,750). The funds will officially be utilized after the merger between BSTR and CEPO is completed. It is reported that the merged company will trade under the stock code "BSTR" and plans to hold 30,021 Bitcoins. Previously, it was stated that BSTR has reached a final business combination agreement with Cantor Equity Partners I, Inc. (Nasdaq: CEPO). Cantor Equity Partners I, Inc. is a special purpose acquisition company initiated by an affiliate of Cantor Fitzgerald. The combined company will also have access to up to $1.5 billion in private equity investment for post-listing PIPE financing, which is the largest PIPE financing to date associated with Bitcoin reserve-related SPAC merger transactions, and the SPAC will contribute an additional approximately $200 million in funds depending on the redemption situation.