Twenty One Capital Raises Total of $685 Million in Bitcoin Financing Ahead of Merger
The cryptocurrency firm Twenty One Capital has successfully raised $100 million through convertible senior secured notes, bringing its cumulative fundraising to $685 million, as it prepares to merge with Cantor Equity Partners.
Key Highlights:
- Bitcoin treasury firm Twenty One has secured an extra $100 million through convertible senior secured notes, raising its total capital to $685 million.
- This new funding stems from existing investors who opted to purchase additional notes initially offered in April, as detailed in a filing with the SEC.
- The firm is set to merge with Cantor Equity Partners, a publicly-traded entity, and is spearheaded by Brandon Lutnick, with notable backing from iFinex and Tether. Jack Mallers, the CEO of Strike, will lead the initiative.
Bitcoin treasury firm Twenty One has raised an additional $100 million through convertible senior secured notes, bringing its total capital raised to $685 million as it approaches a merger with Nasdaq-listed Cantor Equity Partners (CEP), according to a recent SEC filing.
The funding comes from current investors who exercised options to buy more notes that were originally offered during a prior fundraising round in April.
The new notes bear a 1% coupon and are due in 2030. This latest influx enhances the initial commitment of $385 million, totalling $485 million in note financing, in addition to $200 million from private investment disclosed the previous month.
CEP’s shares declined by 1.5% as Bitcoin dipped below $107,000. The firm is part of a growing trend among companies adopting a Bitcoin treasury strategy, reminiscent of Michael Saylor’s initiatives. Brandon Lutnick, son of U.S. Commerce Secretary and former Cantor Fitzgerald Chairman Howard Lutnick, is leading the charge through a SPAC setup with Cantor. Owners include iFinex, the parent company of Bitfinex, alongside Tether, which manages the $150 billion USDT.
