Adam Back’s 30,021-BTC Listing Deal Is Dead – $15M Survived

1 month ago 19

The termination agreement leaves behind a strict new financial timeline. BSTR Holdings (Cayman) must pay Cantor Equity Partners I (CEPO) $10 million by September 19 and another $5 million by December 1. If either payment lags by more than seven days, the legal releases granted by CEPO and its affiliates evaporate instantly.

What the termination leaves behind

The proposed BSTR public listing: Formally terminated on August 20.
The 30,021-BTC launch package: Stripped of its public-company vehicle.
Private placements: Canceled automatically under prior amendments.
Cash owed to CEPO: $15 million split across two hard deadlines.
The critical vulnerability: A seven-day grace period attached to the September 19 and December 1 payments.