2 weeks ago
Bitcoin BTC treasury steadfast Twenty One has raised an further $100 cardinal done convertible elder secured notes, pushing its full superior raised to $685 cardinal arsenic it advances toward a planned merger with Nasdaq-listed Cantor Equity Partners (CEP), a Thursday filing with the U.S. Securities and Exchange Commission shows.
The caller financing comes from existing investors and sponsors who exercised their enactment to bargain much of the notes, primitively granted during the April fundraising round, the regulatory filing said.
The caller notes transportation a 1% coupon and are owed successful 2030. The $100 cardinal boost adds to the $385 cardinal initially committed, bringing the full enactment financing to $485 million. That’s connected apical of $200 cardinal successful backstage concern successful nationalist equity (PIPE) disclosed past month.
CEP is little by 1.5% successful greeting U.S. commercialized arsenic bitcoin slips beneath $107,000.
Twenty One is the latest illustration of firms with a crypto treasury strategy, pursuing Michael Saylor's Startegy (MSTR). The steadfast is being launched by Brandon Lutnick—the lad of U.S. Commerce Secretary and erstwhile Cantor Fitzgerald president Howard Lutnick—via a a special-purpose acquisition institution (SPAC) operation utilizing Cantor Equity Partners. Owners see iFinex—the genitor institution of Bitfinex—and Tether, the issuer of the $150 cardinal USDT. The institution volition beryllium led by Strike CEO Jack Mallers.
The institution precocious disclosed a $458 cardinal BTC acquisition earlier this month.
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