BSTR under Adam Back terminates original SPAC merger agreement, renegotiates listing terms with Cantor Equity Partners

Deep Tide TechFlow News — On July 8, 2026, according to CoinDesk, Bitcoin Standard Treasury Corporation (BSTR) and Cantor Equity Partners I (CEPO) announced that they will no longer proceed with the transaction under the original merger agreement signed in July 2025. Instead, they will renegotiate new terms to better reflect the current market environment. At the same time, the PIPE (private investment in public equity) arrangement attached to the original merger agreement will no longer be a prerequisite for the transaction to close.

The shareholder meeting of CEPO, originally scheduled for July 10, has been postponed indefinitely. All previously submitted redemption requests will be cancelled, and the related shares will be returned to investors. BSTR originally planned to take the company public through this SPAC merger, at which point its balance sheet would hold more than 30,000 bitcoins. It also planned to raise up to $1.5 billion through PIPE financing to increase its bitcoin holdings.