Twenty One announces launch with over 42000 BTC holdings

According to Businesswire, the newly established Bitcoin company Twenty One Capital, Inc. announced today that it has partnered with Cantor Equity Partners, Inc. (NASDAQ: CEP) signed the final agreement. Upon completion of the business merger, Twenty One will be controlled by Tether and Bitfinex, with SoftBank Group holding a significant minority stake. Twenty One and CEP have also signed subscription agreements with investors to raise an additional $585 million in total capital upon completion of the transaction. Twenty One and CEP have also signed subscription agreements with investors to raise an additional total capital of $585 million upon completion of the transaction, including (i) $385 million raised through convertible senior secured notes, and (ii) $200 million raised through common stock private equity investment (PIPE) financing ("PIPE Financing"). The net proceeds from the PIPE financing will be completed simultaneously with the business merger and used to purchase additional Bitcoin and for general corporate purposes. Twenty One is expected to launch with a holding of over 42000 bitcoins, making it the third-largest holder of bitcoin reserves in the world to date. Twenty One aims to accumulate Bitcoin and increase per share holdings, rather than just tracking Bitcoin prices. Previously, informed sources stated that Cantor will collaborate with SoftBank and Tether to establish a $3 billion cryptocurrency joint venture to invest in Bitcoin.