Cantor Equity Stock Surges 134% Ahead of Planned Merger for $3.9 Billion Bitcoin Company
Shares of Cantor Equity Partners surged 50% following the announcement of a merger to form a new Bitcoin-based company, Twenty One. The Nasdaq-listed shares rose to $24.80, marking a 134% increase over the past week. CEP, a blank check company, plans to launch Twenty One through a SPAC merger, debuting with over 42,000 Bitcoin worth more than $3.9 billion. The company aims to provide exposure to Bitcoin without direct ownership and offer Bitcoin-related financial services and media content. Major backers include Tether, Bitfinex, Cantor Fitzgerald, and SoftBank. Jack Mallers of Strike will serve as CEO. CEP plans to raise $385 million through convertible senior notes and $200 million via PIPE for Bitcoin purchases and corporate purposes. Twenty One will trade under the ticker XXI.
