BSTR and Cantor Equity Partners have decided not to proceed with their merger as outlined in the July 2025 agreement, with the shareholder meeting postponed indefinitely.
By James Van Straten, AI Boost|Edited by Stephen AlpherUpdated Jul 8, 2026, 2:25 p.m. Published Jul 8, 2026, 2:17 p.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShow- BSTR and Cantor Equity Partners are currently revising their merger terms after abandoning their initial agreement from July 2025 due to shifting market dynamics.
- The previously planned PIPE financing has been canceled, and the shareholder meeting scheduled for July 10 has been postponed indefinitely.
- CEPO shares are trading at approximately $10.50.
Adam Back's Bitcoin Standard Treasury Company (BSTR), which is backed by Blockstream CEO and Bitcoin pioneer Adam Back, is currently renegotiating the terms of its intended public listing through a merger with Cantor Equity Partners I (CEPO). The original agreement made last year has been abandoned in favor of a structure that better aligns with current market realities.
On Wednesday, the companies announced they would not proceed with the transaction based on the July 2025 merger agreement. Instead, they are working on a new structure, with more details expected to be released in future filings to the U.S. Securities and Exchange Commission.
As part of the revisions, the previously mentioned private placement financing related to the merger is no longer a requirement for closure. CEPO has also indefinitely postponed its shareholder meeting, which was originally set for July 10. Any redemption requests from CEPO shareholders will be canceled, and shares will be returned without any action needed from investors.
This announcement follows a series of delays. In June, CEPO had delayed its shareholder meeting to provide additional time and extend the redemption deadline. It was later rescheduled to July 10 before being postponed indefinitely.
BSTR initially revealed plans in July 2025 to go public through a SPAC merger with Cantor Equity Partners. It was anticipated that the company would debut with over 30,000 bitcoin on its balance sheet, potentially making it one of the largest corporate holders of bitcoin publicly traded. The merger also included plans to raise up to $1.5 billion through a private investment in public equity (PIPE), which would provide further capital to acquire bitcoin.
Earlier this year, Back mentioned to CoinDesk that launching during a weaker bitcoin market could ultimately be advantageous for BSTR, as it would allow the company to accumulate bitcoin at lower prices ahead of a possible market recovery.
CEPO's stock continues to trade around $10.50.
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