Twenty One Capital, Inc., a newly formed entity, has announced a business combination with Cantor Equity Partners, Inc. (CEP), a special-purpose acquisition company. Post-transaction, Twenty One will be majority-owned by Tether, the world’s largest stablecoin issuer, with significant minority ownership by SoftBank Group. The deal includes raising $585 million through convertible senior secured notes and common equity PIPE financing. The proceeds will be used to purchase additional Bitcoin, aiming to make Twenty One the third-largest Bitcoin treasury globally. The company will introduce new metrics such as Bitcoin Per Share (BPS) and Bitcoin Return Rate (BRR) to measure performance in Bitcoin terms. Led by Jack Mallers, a prominent figure in Bitcoin adoption, Twenty One aims to accumulate Bitcoin and grow ownership per share. The company plans to develop Bitcoin-native financial solutions and replace legacy financial tools with Bitcoin-aligned alternatives. The transaction values Twenty One at a pro-forma enterprise value of $3.6 billion.
— new from Business Wire
