Twenty -one capital bought 4,812 Bitcoins (BTC) on 9 May for around $ 458.7 million, according to a form of 8 K submitted With the US Securities and Exchange Commission (SEC).
The acquisition, made at an average price of $ 95.319.83 per BTC, was carried out in connection with a business combination agreement between twenty -one and Cantor Equity Partners, a special acquisition company supported by Cantor Fitzgerald.
Pipe financing
The purchased Bitcoin was initially obtained by Tether and placed in a designated wallet pending the closure of the pipe (private investments in public shares) financing. Tether will transfer the Bitcoin to twenty -one when the proposed transactions are concluded under conditions that have been laid down in the combination agreement.
The pipe financing structure comprises $ 385 million in convertible senior secure banknotes and $ 200 million in common equity.
The net revenue of these offers is mainly indicated for extra Bitcoin purchases.
The company also maintains an optional clause to pick up up to $ 100 million more in convertible notes within 30 days of the initial transaction date.
BitWise head of Alpha Strategies Jeff Park commented on the timing and scale of the purchase, proverb That twenty -one capital “actually broke up half a garden BTC within two weeks of the announcement.”
Bitcoin Treasury strategy Anchors Launch
With this acquisition, twenty-one capital has become the 17th largest business -bitcoin holder worldwide and is in fifth place among private companies, based on data from Bitcoin Treasuries.
The company expects to keep more than 42,000 BTC in the launch, so that it is placed behind the only strategy and some others in total business reserves for companies.
Twenty -one was formed as part of a business combination with Cantor Equity Partners and is supported by Tether, Bitfinex and Softbank Group. The company is structured to work as a Bitcoin-Native Public Entity, aimed at maximizing Bitcoin ownership per share rather than following traditional stock statistics.
The company model of the company also includes the development of Bitcoin-Native Financial Products, capital market tools and business infrastructure tailored to the monetary property of Bitcoin.
Twenty -one will act under the “XXI” ticker after the transaction has been completed. Until then, shares of Cantor Equity partners will continue to act on Nasdaq under “CEP”.
