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AUSTIN - Bitcoin-native company Twenty One Capital, Inc. announced Tuesday it expects to receive approximately 5,800 additional Bitcoin from Tether at the closing of its previously announced business combination with Cantor Equity Partners (NASDAQ:CEP). CEP shares, currently trading at $28.06, have shown remarkable momentum with a 173% gain over the past six months, according to InvestingPro data.
This addition will bring Twenty One’s total holdings to over 43,500 Bitcoin, positioning it as the third-largest corporate Bitcoin treasury globally. The company reports these holdings will be acquired at a blended average cost of $87,280.37 per Bitcoin.
Twenty One Capital is proceeding with plans to become publicly listed through its business combination with Cantor Equity Partners, Inc. (NASDAQ:CEP), a special-purpose acquisition company sponsored by an affiliate of Cantor Fitzgerald. Following the completion of this transaction, the company intends to trade under the ticker symbol XXI.
"We believe Bitcoin deserves a public company worthy of its ethos," said Jack Mallers, Co-Founder and CEO of Twenty One in the statement. "We’re not here to beat the existing system, we’re here to build a new one."
The company plans to introduce a performance metric called Bitcoin Per Share (BPS), which will reflect the amount of Bitcoin the company holds that each fully-diluted share represents. According to the announcement, each share is expected to represent approximately 12,559 sats/share.
Following the business combination closing, Twenty One will hold Bitcoin on its balance sheet as part of its long-term treasury strategy. The company states all Bitcoin will be custodied transparently with real-time proof of reserves available online.
The transaction remains subject to customary closing conditions, including approval from CEP’s shareholders. Twenty One has made a confidential submission of a draft registration statement on Form S-4 with the SEC.
At closing, Twenty One will be majority-owned by Tether and Bitfinex, with SoftBank Group Corp. holding a significant minority stake. InvestingPro subscribers can access additional insights about CEP, including 8 more exclusive ProTips and detailed financial metrics that could help evaluate this unique Bitcoin-focused investment opportunity.
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