secwatch.observer — SEC 8-K summary
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Issuer:     Twenty One Capital, Inc. (XXI)
CIK:        0002070457
Form:       8-K
Filed at:   2025-12-12T23:59:59+00:00
Accession:  0001213900-25-121293
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 2.01, 5.06, 5.02, 9.01, 2.03, 3.02, 3.03, 5.01, 5.03, 5.05
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2070457/000121390025121293/0001213900-25-121293-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2070457/000121390025121293/ea0269460-8k_twenty.htm
  HTML page:      https://secwatch.observer/filing/0001213900-25-121293

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer