Twenty One announces to launch with more than 42,000 BTC holdings

PANews April 23rd news, according to Businesswire, the newly established Bitcoin company Twenty One Capital, Inc. announced today that it has signed a final agreement with Cantor Equity Partners, Inc. (NASDAQ: CEP). At the time of the completion of the business merger, Twenty One will be controlled by Tether and Bitfinex, and SoftBank Group will hold a large minority stake. Twenty One and CEP also signed subscription agreements with investors to raise an additional $585 million in total capital upon completion of the transaction. Twenty One and CEP also entered into subscription agreements with investors to raise an additional $585 million in total capital at the close of the transaction, including (i) $385 million raised through convertible senior secured notes, and (ii) $200 million raised through common equity private equity investment (PIPE) financing (“PIPE financing”). The net proceeds from PIPE financing will be completed simultaneously with the business merger for additional Bitcoin purchases as well as general corporate purposes. Twenty One is expected to launch with holdings of more than 42,000 bitcoins, which will make it the third largest Bitcoin reserve holder in the world so far. Twenty One aims to accumulate Bitcoin and increase holdings per share, not just tracking the price of Bitcoin.

Previous news , people familiar with the matter said that Cantor will cooperate with SoftBank and Tether to form a $3 billion crypto joint venture to invest in Bitcoin.

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