{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-25-121293","form_type":"8-K","ticker":"XXI","cik":"0002070457","company_name":"Twenty One Capital, Inc.","filed_at":"2025-12-12T23:59:59+00:00","discovered_at":"2026-05-14T18:02:41.525580+00:00","generated_at":"2026-05-16T13:24:59.945782+00:00","sec_items":["1.01","2.01","5.06","5.02","9.01","2.03","3.02","3.03","5.01","5.03","5.05"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Twenty One Capital completes SPAC merger with Cantor; receives $1.46B in Bitcoin, issues $486.5M notes","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-25-121293","json":"https://secwatch.observer/filing/0001213900-25-121293.json","markdown":"https://secwatch.observer/filing/0001213900-25-121293.md","text":"https://secwatch.observer/filing/0001213900-25-121293.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/2070457/000121390025121293/0001213900-25-121293-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/2070457/000121390025121293/ea0269460-8k_twenty.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T13:24:59.945782+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"65c36f702755233e03ad536ee1878d4e373ddc9b","claim":"Twenty One Capital, Inc.: Amended and Restated Bylaws adopted (effective 2025-12-08).","evidence_excerpt":"adopted the Amended and Restated Bylaws (the “Bylaws”) on December 8, 2025","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/2070457/000121390025121293/0001213900-25-121293-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"bylaw amendment"},{"label":"Effective","value":"2025-12-08"}],"fact_type":"governance_change"},{"claim_id":"81a79a22ab202f73d7b06c7e724727fcb2475179","claim":"Twenty One Capital, Inc.: Amended and Restated Certificate of Formation filed and effective (effective 2025-12-08).","evidence_excerpt":"Pubco filed the Amended and Restated Certificate of Formation (the “Certificate of Formation”) with the Texas Secretary of State on December 5, 2025, which became effective on December 8, 2025","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/2070457/000121390025121293/0001213900-25-121293-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"charter amendment"},{"label":"Effective","value":"2025-12-08"}],"fact_type":"governance_change"},{"claim_id":"e0616eda158a6c31c40e8acef51b469bf5d3f124","claim":"Twenty One Capital, Inc.: CEP ceased to be a shell company upon closing of business combination.","evidence_excerpt":"As a result of the Business Combination, CEP ceased to be a shell company upon the Closing.","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/2070457/000121390025121293/0001213900-25-121293-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"shell status"}],"fact_type":"governance_change"},{"claim_id":"e9368b6485cae0ea0500bf87f5cdf6265aed585a","claim":"Twenty One Capital, Inc.: Board adopted a new Code of Conduct (effective 2025-12-08).","evidence_excerpt":"On December 8, 2025, the Board adopted a new Code of Conduct that applies to all of its employees, including its Chief Executive Officer, Chief Financial Officer and other executive and senior financial officers.","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/2070457/000121390025121293/0001213900-25-121293-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"code of ethics"},{"label":"Effective","value":"2025-12-08"}],"fact_type":"governance_change"},{"claim_id":"670c5936c90a13b711354dbcee8952cb598925cb","claim":"Twenty One Capital, Inc. underwent a change of control involving Cantor Equity Partners, Inc. (closed 2025-12-08).","evidence_excerpt":"Immediately following completion of the Mergers and the other transactions contemplated by the Business Combination Agreement (the “Business Combination”), CEP Surviving Subsidiary and Company Surviving Subsidiary became wholly owned subsidiaries of Pubco.","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/2070457/000121390025121293/0001213900-25-121293-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"change of control"},{"label":"Counterparty","value":"Cantor Equity Partners, Inc."},{"label":"Closing","value":"2025-12-08"}],"fact_type":"ma_transaction"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}