Skadden is advising BSTR Holdings, Inc. in connection with its business combination with Cantor Equity Partners I, Inc., a special purpose acquisition company sponsored by an affiliate of Cantor Fitzgerald. Upon closing, the combined company will trade on Nasdaq under the ticker symbol BSTR. The company will launch with 30,021 bitcoin on its balance sheet, making it the fourth-largest public bitcoin treasury globally, and up to $1.5 billion of private investment in public equity (PIPE) financing. Dr. Adam Back, a pioneering cryptographer and the inventor of proof-of-work algorithm Hashcash, will lead the firm as chief executive officer. Net proceeds will be used to acquire additional bitcoin and to build a suite of bitcoin-native capital markets products and advisory services. Lorenzo Corte and Ryan Dzierniejko led the Skadden team.
Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates