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Adam Back's BSTR terminates original SPAC merger agreement, renegotiates listing terms with Cantor Equity Partners
TechFlowJul 8, 2026
On July 8, according to CoinDesk, Bitcoin Standard Financial Corporation (BSTR) and Cantor Equity Partners I (CEPO) announced on July 8, 2026, that they would no longer proceed with the transaction under the original merger agreement signed in July 2025. Instead, the parties will renegotiate new terms to better reflect the current market environment. Meanwhile, the private investment in public equity (PIPE) financing arrangement attached to the original merger agreement will no longer serve as a condition precedent to the completion of the transaction.
CEPO’s previously scheduled shareholder meeting on July 10 has been postponed indefinitely; all redemption requests submitted to date will be canceled, and the related shares will be returned to investors. BSTR had initially planned to go public via this SPAC merger, which would have placed over 30,000 bitcoins on its balance sheet, and intended to raise up to $1.5 billion through PIPE financing to acquire additional bitcoins.[TechFlow]
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