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

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