# BSTR Holdings, Inc. (BSTR) — merger/spac_merger [pending]
Source: SEC API (secapi.ai) · situation sit_db8dcc93bc0693ea6a0d · retrieved 2026-08-11T15:48:43.657Z

## Overview
BSTR Holdings, Inc. (Bitcoin Standard Treasury) is a Bitcoin treasury company that acquires and holds Bitcoin as a long-term investment vehicle, offering public-market investors differentiated, capital-efficient exposure to Bitcoin with plans to accumulate Bitcoin and compound Bitcoin per share over time.

On July 16, 2025, BSTR Holdings, Inc. (Pubco), a Delaware corporation, entered into a Business Combination Agreement with Cantor Equity Partners I, Inc. (CEPO), a Cayman Islands exempted company, and related merger subsidiaries. The transaction contemplates concurrent private placements of Pubco's 1.00% convertible senior secured notes, 7.00% perpetual convertible preferred stock, and class A common membership interests of BSTR Newco, LLC. BSTR, a Bitcoin Standard Treasury Company, plans to acquire up to 21,000 additional Bitcoin at current prices (subject to regulatory approval and SPAC redemptions) and aims to become the third-largest corporate Bitcoin holder globally by holdings. The business combination is expected to close around April 2026, with BSTR positioning itself to capitalize on lower Bitcoin prices at launch by deploying capital more efficiently.

## Terms
- Counterparty: Cantor Equity Partners I, Inc. · Consideration: mixed

## Key dates
- Announced 2026-02-23 · Expected close 2026-04-30

## Timeline
- 2026-02-23 · 425 (0001213900-26-019318): 425 - BSTR Holdings, Inc. — *BSTR Holdings, Inc. is a Delaware corporation that plans to operate as a Bitcoin treasury company offering public-market investors a differentiated, capital-efficient way to gain exposure to Bitcoin, accumulate Bitcoin, and compound Bitcoin per share over time, with planned yield strategies, alpha strategies, and capital markets services.* On July 16, 2025, Cantor Equity Partners I, Inc. (CEPO), a Cayman Islands exempted company and blank-check company, entered into a Business Combination Agreement with BSTR Holdings, Inc. (Pubco), a Delaware corporation, and related merger subsidiaries. The transaction contemplates a business combination whereby BSTR Holdings will become a public company listed on a stock exchange. In connection with the business combination, concurrent private placements are planned, including Pubco's 1.00% convertible senior secured notes, 7.00% perpetual convertible preferred stock, CEPO Class A ordinary shares, and class A common membership interests of BSTR Newco, LLC. The transaction is expected to provide public-market investors exposure to Bitcoin and related services through Pubco's planned business strategy.
  https://www.sec.gov/Archives/edgar/data/2083583/0001213900-26-019318.txt
- 2026-02-24 · 425 (0001213900-26-019556): 425 - BSTR Holdings, Inc. — *BSTR Holdings, Inc. is a newly formed operating company focused on Bitcoin, offering public-market investors a differentiated, capital-efficient way to gain exposure to Bitcoin through large-scale programmatic accumulation, active treasury management intended to compound Bitcoin per share, and development of Bitcoin-focused financial and technology infrastructure services.* On July 16, 2025, Cantor Equity Partners I, Inc. (CEPO), a Cayman Islands exempted company and special-purpose acquisition company, and BSTR Holdings, Inc., a Delaware corporation, entered into a Business Combination Agreement. The transaction involves multiple merger subsidiaries and contemplates concurrent private placements of convertible notes, preferred stock, and equity interests. Upon closing, the combined company is expected to trade under the ticker symbol "BSTR" and will operate as Bitcoin Standard Treasury Company, a Bitcoin-focused operating company offering investors exposure to Bitcoin through programmatic accumulation, active treasury management, and Bitcoin-related financial and technology infrastructure services.
  https://www.sec.gov/Archives/edgar/data/2083583/0001213900-26-019556.txt
- 2026-02-25 · 425 (0001213900-26-020151): 425 - BSTR Holdings, Inc. — *BSTR Holdings, Inc. (Bitcoin Standard Treasury) is a Bitcoin treasury company that acquires and holds Bitcoin as a long-term investment vehicle, offering public-market investors differentiated, capital-efficient exposure to Bitcoin with plans to accumulate Bitcoin and compound Bitcoin per share over time.* On July 16, 2025, BSTR Holdings, Inc. (Pubco), a Delaware corporation, entered into a Business Combination Agreement with Cantor Equity Partners I, Inc. (CEPO), a Cayman Islands exempted company, and related merger subsidiaries. The transaction contemplates concurrent private placements of Pubco's 1.00% convertible senior secured notes, 7.00% perpetual convertible preferred stock, and class A common membership interests of BSTR Newco, LLC. BSTR, a Bitcoin Standard Treasury Company, plans to acquire up to 21,000 additional Bitcoin at current prices (subject to regulatory approval and SPAC redemptions) and aims to become the third-largest corporate Bitcoin holder globally by holdings. The business combination is expected to close around April 2026, with BSTR positioning itself to capitalize on lower Bitcoin prices at launch by deploying capital more efficiently.
  https://www.sec.gov/Archives/edgar/data/2083583/0001213900-26-020151.txt

## Citations
- 0001213900-26-019318 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000121390026019318
- 0001213900-26-019556 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000121390026019556
- 0001213900-26-020151 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000121390026020151