Overview
- Twenty One Capital began trading under ticker XXI after completing its business combination with Cantor Equity Partners.
- Shares fell sharply on day one, touching roughly $10.50 intraday and closing at $11.42, about 20% below CEP’s prior close of $14.27, with a slight after-hours rebound.
- The company enters public markets with 43,514 BTC transferred from escrow into its custody, and it says it will publish on-chain proof-of-reserves for investors.
- Tether and Bitfinex hold a majority stake and SoftBank is a minority investor, anchoring a structure that makes Twenty One one of the largest public corporate bitcoin holders.
- Financing for the deal includes about $486.5 million in senior convertible notes and roughly $365 million in equity commitments, as CEO Jack Mallers vows to keep buying bitcoin and build BTC-focused services.