---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-119445"
form_type: "8-K"
ticker: "XXI"
cik: "0002070457"
company_name: "Twenty One Capital, Inc."
filed_at: "2025-12-09T23:59:59+00:00"
generated_at: "2026-05-16T13:51:44.187747+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Twenty One Capital closes business combination, to trade on NYSE as XXI with 43,500+ Bitcoin

## Summary
- Holds over 43,500 Bitcoin, third largest public corporate holder; majority-owned by Tether and Bitfinex, with SoftBank minority.
- Business combination includes $486.5M senior convertible notes PIPE and ~$365M common equity PIPEs.
- Class A common stock begins trading on NYSE Dec 9, 2025 under ticker 'XXI'.
- Plans to build Bitcoin-native financial services, lending, capital markets advisory, and educational media.

## SEC filing metadata
- accession: 0001213900-25-119445
- form_type: 8-K
- ticker: XXI
- cik: 0002070457
- company_name: Twenty One Capital, Inc.
- filed_at: 2025-12-09T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2070457/000121390025119445/0001213900-25-119445-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2070457/000121390025119445/ea0268794-8k_twenty.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-119445
- JSON: https://secwatch.observer/filing/0001213900-25-119445.json
- Plain text: https://secwatch.observer/filing/0001213900-25-119445.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.