Twenty One Capital completes SPAC merger with Cantor; receives $1.46B in Bitcoin, issues $486.5M notes

Twenty One Capital, Inc.

Tether contributed 24,500 BTC and Bitfinex contributed 7,000 BTC to Pubco in exchange for equity.
Issued $486.5M aggregate of 1% convertible senior notes due 2030, convertible at 72.0841 shares/$1,000.
SoftBank purchased 89.1M Pubco shares from Tether for $999.3M as part of the transaction.
PIPE investors received 20M shares (April) and 7.86M shares (June) at $10.75 & $21.00 per share respectively.
Convertible notes secured by 16,116.3 BTC valued at $1.4595B; Sellers/SoftBank locked up for 6 months.

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