Adam Back’s Bitcoin treasury company seeks new terms with Cantor for SPAC merger
Summary
Bitcoin Standard Treasury Company (BSTR), founded by Blockstream CEO Adam Back, plans to renegotiate its SPAC merger with Cantor Equity Partners I instead of proceeding under the original 2025 terms. Both sides said the new deal should better reflect current market conditions, and a scheduled shareholder vote was postponed indefinitely. The original agreement called for BSTR to contribute more than 30,000 BTC and $1.5 billion in PIPE financing; the SEC had already recognized the registration statement in June. The shift comes as Cantor appears to be broadening beyond pure Bitcoin treasury deals, and after another Cantor-linked SPAC, Securitize, recently completed its public listing.
