Bitcoin Reserve Company BSTR Seeks to Amend SPAC Merger Agreement with Cantor

According to Bloomberg, according to Bloomberg, a special purpose acquisition company (SPAC) supported by Cantor Fitzgerald and Adam Back's Bitcoin reserve company BSTR announced that the two sides have abandoned the original terms of the previously proposed merger and will renegotiate the revised agreement. Against the backdrop of the increasingly severe crypto market environment and the challenges faced by Bitcoin reserve companies, the two sides decided to adjust the trading arrangements.

Cantor Equity Partners I Inc. and BSTR Holdings said on Wednesday that the two sides will no longer proceed with the deal in accordance with the merger agreement signed last year, but will instead seek revised transaction terms that better reflect current market conditions. However, the two companies did not disclose the specific financial terms of the new deal, nor did they say when they will be able to reach a new agreement.