BBX News: Yesterday, BSTR Holdings led by Adam Back and Cantor Equity Partners I officially announced the termination of the original SPAC merger agreement, and both parties renegotiated the revised terms; American Bitcoin completed a 1-to-15 reverse stock split during the same period to maintain its listing on NASDAQ, while purchasing 500 BTC to increase its total holdings to 8000. The dynamics of the two companies jointly present two completely different survival situations for Bitcoin treasury enterprises in the current market environment.
Core points:
——Cantor Equity Partners I (Nasdaq: $CEPO)/BSTR Holdings: On July 8th, they jointly announced the termination of the original merger agreement for July 2025; Reason: The $1.5 billion PIPE financing was not completed (Bloomberg: Large investors have reduced their commitments before the shareholders' meeting); The CEPO shareholders' meeting on July 10th has been indefinitely postponed; CEPO has returned all publicly available shares that have been submitted for redemption; Both parties are still negotiating the revised terms without a specific timetable; BSTR originally planned to list and hold 30021 BTC (25000 founder+5021 PIPE), with a target of 50000 BTC; Adam Back confirms on X platform that discussions are underway to revise the structure; CEPO is currently trading around $10.50.
——American Bitcoin Corp. (Nasdaq: $ABTC): Completed a 1-to-15 reverse stock split to maintain Nasdaq's minimum stock price requirement; Purchase 500 BTC and increase total holdings to 8000 BTC (approximately 496 million US dollars); Ranked 16th in global listed company Bitcoin holdings; Hut 8 holds approximately 44% equity, with Eric Trump serving as Chief Strategy Officer; Since the beginning of the year, holdings have decreased by about 70%; Focus on Bitcoin mining and dual track treasury model.
Source: bbx.com
