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Adam Back's BSTR terminates original SPAC merger agreement, renegotiates listing terms with Cantor Equity Partners
OdailyJul 8, 2026
Adam Back's Bitcoin treasury company BSTR and Cantor Equity Partners I (CEPO) announced on July 8, 2026, that they will no longer proceed with the transaction according to the original merger agreement signed in July 2025. Instead, they will renegotiate new terms to better reflect the current market environment. At the same time, the private investment in public equity (PIPE) arrangement attached to the original merger agreement will no longer be a prerequisite for the completion of the transaction.
The CEPO shareholder meeting originally scheduled for July 10 has been postponed indefinitely, and all previously submitted redemption requests will be canceled, with the relevant shares returned to investors.BSTR initially planned to go public through this SPAC merger, holding over 30,000 Bitcoin on its balance sheet at the time, and intended to raise up to $1.50 billion through PIPE financing for further Bitcoin acquisitions. (CoinDesk)[Odaily Planet Daily]
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