CEPO
Cantor Equity Partners I, Inc.10.58
+0.06+0.52%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
269.79MP/E (TTM)
62.24Basic EPS (TTM)
0.17Dividend Yield
0%Recent Filings
8-K
BSTR Bitcoin PIPE update
Cantor Equity Partners I announced an update to its business combination with BSTR Holdings on August 28, 2025, including a new subscription for 20 Bitcoin in exchange for CEPO Class A shares, while terminating a related Newco agreement, keeping total Bitcoin contributions steady at 5,021.11. This bolsters the $1.3 billion fiat raise—$575 million in 1% convertible notes due five years post-closing and $255 million in 7% perpetual convertible preferred stock—alongside the $400 million cash PIPE, fueling BSTR's Bitcoin treasury strategy amid volatile crypto markets. Yet Bitcoin's price swings could erode holdings' value.
8-K
New preferred stock placement announced
Cantor Equity Partners I announced an August Preferred Stock Private Placement on August 25, 2025, securing commitments for about 0.48 million shares of 7.00% perpetual convertible preferred stock at $85.00 per share, yielding roughly $41.05 million in proceeds. This bolsters the funding for its pending business combination with BSTR Holdings, following earlier exercises of options for $221.7 million in preferred stock and additional convertible notes. Yet momentum builds amid Bitcoin volatility risks.
10-Q
Q2 FY2025 results
Cantor Equity Partners I swung to a $1.96M net income for Q2 2025 ended June 30, fueled by $2.13M in interest from its $203.3M Trust Account, up sharply from a $43K loss a year earlier, while operating losses widened to $174K from $43K on higher administrative costs. YTD through June, net income hit $2.95M versus last year's $43K loss, with EPS at $0.12 across share classes, reconciling neatly to 24.7M diluted shares. Cash sits lean at $25K outside the Trust, backed by a $244K related-party note and up to $1.75M more available, but liquidity hinges on sponsor support. Signed a merger deal July 16, 2025, blending with BSTR Newco via cash/stock PIPEs worth $400M plus Bitcoin swaps, eyeing a close before the January 2027 deadline. Yet regulatory hurdles from new SPAC rules could snag the timeline.
8-K
Additional $30.5M convertible notes
Cantor Equity Partners I announced on August 7, 2025, subscription agreements for $30.5 million in additional 1.00% convertible senior secured notes due five years post-closing, expanding the prior $500 million private placement tied to its business combination with BSTR Holdings. This bolsters funding for the Bitcoin-focused merger, secured by collateral including Bitcoin holdings, while requiring SEC resale registration within 30 days of closing. Options for up to $250 million more notes remain available. Yet volatility in Bitcoin prices poses risks to post-merger performance.
8-K
CEPO shareholders will receive Pubco Class A common stock; the structure involves dual mergers to consolidate entities, with Bitcoin integration via Newco. PIPE funding supports post-merger operations, and the deal awaits shareholder and regulatory approvals.
Cantor Equity Partners I, Inc. (CEPO), a SPAC, has entered into a business combination agreement with BSTR Holdings, Inc. (Pubco) and BSTR Newco, LLC (Newco), involving a merger where SPAC merges with Pubco's subsidiary and Newco merges with another subsidiary, resulting in Pubco becoming publicly traded. The deal includes PIPE investments totaling $400M in cash equity, $500M in convertible notes, and $30M in preferred stock, with Newco receiving 25,000 Bitcoin as a contribution. The transaction is valued based on Bitcoin's price at closing, with key dates in July 2025.
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