# EDGAR Filing Document

**Accession Number:** 0001865602
**File Stem:** 0001213900-25-068458
**Filing Date:** 2025-7
**Character Count:** 44658
**Document Hash:** 01f61ae0e893b9ddef4b19018f2bd472
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-068458.hdr.sgml**: 20250729

**ACCESSION NUMBER**: 0001213900-25-068458

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20250726

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250729

**DATE AS OF CHANGE**: 20250729

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Cantor Equity Partners, Inc.
- **CENTRAL INDEX KEY:** 0001865602
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 981576482
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-42250
- **FILM NUMBER:** 251158003

**BUSINESS ADDRESS:**
- **STREET 1:** 110 EAST 59TH STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** 212-610-2307

**MAIL ADDRESS:**
- **STREET 1:** 110 EAST 59TH STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CF Acquisition Corp. A
- **DATE OF NAME CHANGE:** 20230627

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CF International Acquisition Corp.
- **DATE OF NAME CHANGE:** 20210603

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d) OF THE**

**SECURITIES EXCHANGE ACT OF 1934**

Date of Report (Date of earliest event reported): **July 29, 2025 (July 26, 2025)**

**CANTOR EQUITY PARTNERS, INC.**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Cayman Islands** | **001-42250** | **98-1576482** |
| (State or other jurisdiction<br> of incorporation) | (Commission File Number) | (IRS Employer<br> Identification No.) |

---

---

| | |
|:---|:---|
| **110 East 59th Street, New York, NY** | **10022** |
| (Address of principal executive offices) | (Zip Code) |

---

Registrant's telephone number, including area code: **(212) 938-5000**

**Not Applicable**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☒ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Class A ordinary shares, par value $0.0001 per share | CEP | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 1.01 Entry into a Material Definitive Agreement.**

As previously reported on Current Reports on Form 8-K filed with the United States Securities and Exchange Commission (the "SEC"), on April 22, 2025, Cantor Equity Partners, Inc., a Cayman Islands exempted company ("CEP"), entered into a Business Combination Agreement (the "Business Combination Agreement") with Twenty One Capital, Inc., a Texas corporation ("Pubco"), Twenty One Merger Sub D, a Cayman Islands exempted company, Twenty One Assets, LLC, a Delaware limited liability company ("Twenty One"), Tether Investments, S.A. de C.V., an El Salvador *sociedad anónima de capital variable* ("Tether"), iFinex, Inc., a British Virgin Islands company, and, solely for the purposes of certain provisions in the Business Combination Agreement, Stellar Beacon LLC, a Delaware limited liability company, for a proposed business combination (the "Business Combination").

On July 26, 2025, the parties to the Business Combination Agreement entered into Amendment No. 1 to the Business Combination Agreement ("Amendment No. 1 to the Business Combination Agreement"), which amends the Business Combination Agreement, to among other things, provide that the Additional PIPE Bitcoin Purchase Price (as defined in the Business Combination Agreement) used to determine the value of Tether's contribution of the Additional PIPE Bitcoin (as defined in the Business Combination Agreement) to Pubco at the Closing and the number of shares of Pubco Stock (as defined in the Business Combination Agreement) to be issued to Tether at the Closing in exchange for the sale of the Additional PIPE Bitcoin by Tether to Pubco shall be based on the Signing Bitcoin Price of $84,863.57, rather than on the aggregate amount Tether paid to purchase the Additional PIPE Bitcoin.

Amendment No. 1 to the Business Combination Agreement is filed as Exhibit 2.1 to this Current Report on Form 8-K, and the foregoing description thereof is qualified in its entirety by reference to the full text of Amendment No. 1 to the Business Combination Agreement and the terms of which are incorporated by reference herein.

**Item 8.01 Other Events.**

On July 29, 2025, Pubco issued a press release announcing that at the closing of the Business Combination it will receive approximately 5,800 additional Bitcoin from Tether bringing Pubco's expected total holdings at such closing to 43,500 Bitcoin. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

***Additional Information and Where to Find It***

Pubco and Twenty One have submitted confidentially a Registration Statement on Form S-4 (as may be amended, the "Registration Statement") and intend to file publicly with the SEC the Registration Statement, which will include a preliminary proxy statement of CEP and a prospectus (the "Proxy Statement/Prospectus") in connection with the Business Combination and certain convertible senior secured notes offering and common equity PIPE financings (the "PIPE Offerings" and, together with the Business Combination, the "Proposed Transactions"). The definitive proxy statement and other relevant documents will be mailed to shareholders of CEP as of a record date to be established for voting on the Business Combination and other matters as described in the Proxy Statement/Prospectus. CEP and/or Pubco will also file other documents regarding the Proposed Transactions with the SEC. This Report does not contain all of the information that should be considered concerning the Proposed Transactions and is not intended to form the basis of any investment decision or any other decision in respect of the Proposed Transactions. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, SHAREHOLDERS OF CEP AND OTHER INTERESTED PARTIES ARE URGED TO READ, WHEN AVAILABLE, THE PRELIMINARY PROXY STATEMENT/PROSPECTUS, AND AMENDMENTS THERETO, AND THE DEFINITIVE PROXY STATEMENT/PROSPECTUS AND ALL OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC IN CONNECTION WITH CEP'S SOLICITATION OF PROXIES FOR THE EXTRAORDINARY GENERAL MEETING OF ITS SHAREHOLDERS TO BE HELD TO APPROVE THE PROPOSED TRANSACTIONS AND OTHER MATTERS AS DESCRIBED IN THE PROXY STATEMENT/PROSPECTUS BECAUSE THESE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION ABOUT CEP, TWENTY ONE, PUBCO AND THE PROPOSED TRANSACTIONS. Investors and security holders will also be able to obtain copies of the Registration Statement and the Proxy Statement/Prospectus and all other documents filed or that will be filed with the SEC by CEP and Pubco, without charge, once available, on the SEC's website at www.sec.gov or by directing a request to: Cantor Equity Partners, Inc., 110 East 59th Street, New York, NY 10022; e-mail: CantorEquityPartners@cantor.com, or upon written request to Twenty One Capital, Inc., via email at info@xxi.money, respectively.

NEITHER THE SEC NOR ANY STATE SECURITIES REGULATORY AGENCY HAS APPROVED OR DISAPPROVED THE PROPOSED TRANSACTIONS DESCRIBED HEREIN, PASSED UPON THE MERITS OR FAIRNESS OF THE PROPOSED TRANSACTIONS OR ANY RELATED TRANSACTIONS OR PASSED UPON THE ADEQUACY OR ACCURACY OF THE DISCLOSURE IN THIS REPORT. ANY REPRESENTATION TO THE CONTRARY CONSTITUTES A CRIMINAL OFFENSE.

The convertible notes of Pubco and the CEP Class A ordinary shares to be issued in the PIPE Offerings have not been registered under the Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act.

***Participants in the Solicitation***

CEP, Twenty One, Pubco and their respective directors, executive officers, certain of their shareholders and other members of management and employees may be deemed under SEC rules to be participants in the solicitation of proxies from CEP's shareholders in connection with the Proposed Transactions. A list of the names of such persons, and information regarding their interests in the Proposed Transactions and their ownership of CEP's securities are, or will be, contained in CEP's filings with the SEC, including CEP's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on March 28, 2025. Additional information regarding the interests of the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of CEP's shareholders in connection with the Proposed Transactions, including the names and interests of the directors and executive officers of CEP, Twenty One and Pubco, will be set forth in the Registration Statement and Proxy Statement/Prospectus, which is expected to be filed with the SEC. Investors and security holders may obtain free copies of these documents as described above.

***No Offer or Solicitation***

The information contained in this Report is for informational purposes only and is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the Proposed Transactions and shall not constitute an offer to sell or exchange, or a solicitation of an offer to buy or exchange the securities of CEP, Twenty One or Pubco, or any commodity or instrument or related derivative, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, sale or exchange would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act or an exemption therefrom. Investors should consult with their counsel as to the applicable requirements for a purchaser to avail itself of any exemption under the Securities Act.

***Forward-Looking Statements***

This Report contains certain forward-looking statements within the meaning of the U.S. federal securities laws with respect to the Proposed Transactions involving CEP, Pubco and Twenty One, including expectations, intentions, plans, prospects regarding CEP, Pubco, Twenty One and the Proposed Transactions and statements regarding the anticipated timing of the completion of the Proposed Transactions, assets held by Pubco, use of proceeds and the satisfaction of closing conditions to the Proposed Transactions. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "potential," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events or conditions that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this Report, including, but not limited to: the risk that the Proposed Transactions may not be completed in a timely manner or at all, which may adversely affect the price of CEP's securities; the risk that the Proposed Transactions may not be completed by CEP's business combination deadline; the failure by the parties to satisfy the conditions to the consummation of the Business Combination, including the approval of CEP's shareholders, or any of the PIPE Offerings; failure to realize the anticipated benefits of the Proposed Transactions; the level of redemptions of CEP's public shareholders which may reduce the public float of, reduce the liquidity of the trading market of, and/or maintain the quotation, listing, or trading of the CEP Class A ordinary shares or the shares of Class A common stock of Pubco, par value $0.01 per share ("Pubco Class A Stock"); the lack of a third-party fairness opinion in determining whether or not to pursue the Business Combination; the failure of Pubco to obtain or maintain the listing of its securities on any securities exchange after closing of the Proposed Transactions; costs related to the Proposed Transactions and as a result of becoming a public company; changes in business, market, financial, political and regulatory conditions; risks relating to Pubco's anticipated operations and business, including the highly volatile nature of the price of Bitcoin; the risk that Pubco's stock price will be highly correlated to the price of Bitcoin and the price of Bitcoin may decrease between the signing of the definitive documents for the Proposed Transactions and the closing of the Proposed Transactions or at any time after the closing of the Proposed Transactions; risks related to increased competition in the industries in which Pubco will operate; risks relating to significant legal, commercial, regulatory and technical uncertainty regarding Bitcoin; risks relating to the treatment of crypto assets for U.S. and foreign tax purposes; risks that after consummation of the Proposed Transactions, Pubco experiences difficulties managing its growth and expanding operations; the risks that growing Pubco's learning programs and educational content could be difficult; challenges in implementing Pubco's business plan including Bitcoin-related financial and advisory services, due to operational challenges, significant competition and regulation; the outcome of any potential legal proceedings that may be instituted against CEP, Pubco, Twenty One or others following announcement of the Proposed Transactions, and those risk factors discussed in documents that CEP, Pubco and/or Twenty One filed, or that will be filed, with the SEC.

The foregoing list of risk factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "*Risk Factors*" section of the final prospectus of CEP, dated as of August 12, 2024 and filed by CEP with the SEC on August 13, 2024, CEP's Quarterly Reports on Form 10-Q, CEP's Annual Report on Form 10-K and the Registration Statement that will be filed by Pubco and Twenty One and the Proxy Statement/Prospectus contained therein, and other documents filed by CEP, Twenty One and Pubco from time to time with the SEC. These filings do or will identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. There may be additional risks that neither CEP, Twenty One nor Pubco presently know or that CEP, Twenty One and Pubco currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements.

Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and each of CEP, Twenty One and Pubco assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither CEP, Twenty One nor Pubco gives any assurance that either CEP, Twenty One or Pubco will achieve its expectations. The inclusion of any statement in this Report does not constitute an admission by CEP, Twenty One or Pubco or any other person that the events or circumstances described in such statement are material.

**Item 9.01 Financial Statements and Exhibits.**

(d) Exhibits.

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 2.1 | [Amendment No.1 to the Business Combination Agreement, dated as of July 26, 2025, by and among CEP, SPAC Merger Sub, Pubco, Twenty One, the Sellers and, for certain limited purposes, SoftBank.](ea025053801ex2-1_cantor.htm) |
| 99.1 | [Press Release, dated July 29, 2025.](ea025053801ex99-1_cantor.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: July 29, 2025

---

| | |
|:---|:---|
| **CANTOR EQUITY PARTNERS, INC.** | **CANTOR EQUITY PARTNERS, INC.** |
| By: | /s/ Brandon Lutnick |
| Name: | Brandon Lutnick |
| Title: | Chief Executive Officer |

---

## Exhibit 2.1

**Exhibit 2.1**

**AMENDMENT NO. 1 TO THE BUSINESS COMBINATION AGREEMENT**

THIS AMENDMENT NO. 1 TO THE BUSINESS COMBINATION AGREEMENT, dated as of July 25, 2025 (this "**Amendment**"), amends the Business Combination Agreement, dated as of April 22, 2025 (the "**BCA**"), by and among (a) Cantor Equity Partners, Inc., a Cayman Islands exempted company ("**SPAC**"), (b) Twenty One Capital, Inc., a Texas corporation ("**Pubco**"), (c) Twenty One Merger Sub D, a Cayman Islands exempted company ("**SPAC Merger Sub**"), (d) Twenty One Assets, LLC, a Delaware limited liability company (the "**Company**"), (e) each of the holders of the outstanding Company Interests named on Annex I thereto (the "**Sellers**") and (f) solely for the purposes of the SoftBank Provisions, Stellar Beacon LLC, a Delaware limited liability company ("**SoftBank**" and together with SPAC, Pubco, SPAC Merger Sub, the Sellers and the Company, the "**Parties**" and each a "**Party**"), is made and entered into by and between the Parties.

**RECITALS**

**WHEREAS,** Section 12.9 of the BCA sets forth that the BCA may be amended, supplemented or modified only by execution of a written instrument signed by each of the Parties; and

**WHEREAS,** the Parties desire to amend certain provisions of the BCA as set forth in this Amendment, in accordance with Section 12.9 of the BCA.

**NOW, THEREFORE,** in consideration of the mutual promises and agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, intending to be legally bound, the Parties hereby agree as follows:

**AGREEMENT**

1. <u>Definitions</u>. Except as otherwise provided herein or if context otherwise requires, capitalized
terms used but not defined in this Amendment shall have the respective meanings ascribed to such terms in the BCA.

2. <u>Amendments to the BCA</u>. The Parties hereby agree that the BCA shall be deemed to be amended as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 <u>Recitals of the BCA</u>. The eleventh paragraph of the Recitals is hereby deleted in its entirety and replaced by the following:

**WHEREAS**, in accordance herewith, (a) following the date of this Agreement, Tether shall (i) purchase a number of Bitcoin equal to the Initial PIPE Net Proceeds (such number of Bitcoin, the "<u>Initial PIPE Bitcoin</u>"), which Initial PIPE Bitcoin shall be sold by Tether to Pubco at the Closing, at a purchase price equal to the Initial PIPE Net Proceeds, and (ii) purchase an additional number of Bitcoin equal to the Option Note Net Proceeds (such number of Bitcoin, the "<u>Option PIPE Bitcoin</u>"), which Option PIPE Bitcoin shall be sold by Tether to Pubco at the Closing, at a purchase price equal to the Option Note Net Proceeds, and (b) at the Closing, Tether shall contribute the Additional PIPE Bitcoin (as defined below) to Pubco;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 <u>Section 1.1 of the BCA</u>. The definition of "Additional PIPE Bitcoin Purchase Price" in Section 1.1 of the BCA is hereby deleted in its entirety and replaced by the following:

"**Additional PIPE Bitcoin Purchase Price**" means the amount (expressed in U.S. dollars) resulting from the product of (i) the Additional PIPE Bitcoin and (ii) $84,863.57.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 <u>Section 8.23(a) of the BCA</u>. Section 8.23(a) of the BCA is hereby deleted in its entirety and replaced by the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Tether acknowledges and agrees that (i) it has purchased or will purchase the Additional PIPE Bitcoin and has or will place the Additional PIPE Bitcoin into a digital wallet held or operated by or on behalf of Tether, and which content of such digital wallet shall be viewable publicly, (ii) neither the Additional PIPE Bitcoin nor such digital wallet shall be subject to any Liens (other than Permitted Liens), (iii) Tether shall take commercially reasonable steps to protect such digital wallet and the Additional PIPE Bitcoin, (iv) prior to the Additional PIPE Bitcoin Sale, Tether shall not sell or transfer the Additional PIPE Bitcoin or such digital wallet, except for any transfer of all or a portion of the Additional PIPE Bitcoin between digital wallets held or operated by or on behalf of Tether, and (v) Tether shall have the exclusive ability to control such digital wallet, including by use of "private keys" or other equivalent means or through custody arrangements or other equivalent means.

3. <u>Authority Relative to Amendment</u>. Each Party hereto represents and warrants that it has all requisite
company or corporate power and authority to execute and deliver this Amendment. This Amendment constitutes, assuming due authorization,
execution, and delivery by the other Parties hereto, a legal, valid, and binding obligation of such Party, enforceable against such Party
in accordance with its terms, subject to any Enforceability Exceptions.

4. <u>Effectiveness</u>. All of the provisions of this Amendment shall be effective as of the date of this
Amendment. Except to the extent specifically amended hereby, all of the terms of the BCA shall remain unchanged and in full force and
effect, and, to the extent applicable, such terms shall apply to this Amendment as if it formed a part of the BCA.

5. <u>References to the BCA</u>. After giving effect to this Amendment, each reference in the BCA to "this
Agreement", "hereof", "hereunder" or words of like import referring to the BCA shall refer to the BCA as
amended by this Amendment. All references in the BCA to "the date hereof" or "the date of this Agreement" shall
refer to April 22, 2025.

6. <u>Entire Agreement</u>. This Amendment, the BCA (including the Exhibits thereto) and the Ancillary Documents
constitute the entire agreement between the Parties with respect to the subject matter hereof and supersede all prior and contemporaneous
agreements and undertakings, both written and oral, between the Parties, or any of them, with respect to the subject matter hereof and
thereof.

7. <u>Expenses</u>. All Expenses incurred in connection with this Amendment and the transactions contemplated
hereby will be reimbursed in accordance with Section 12.5 of the BCA.

8. <u>Other Provisions</u>. The provisions of Article XII (*Miscellaneous*) of the BCA shall, to the
extent not already set forth in this Amendment, apply *mutatis mutandis* to this Amendment, and to the BCA as modified by this Amendment,
taken together as a single agreement, reflecting the terms as modified hereby.

 

*[Remainder of page intentionally left blank]*

 

**IN WITNESS WHEREOF,** the Parties have caused this Amendment No. 1 to the Business Combination Agreement to be duly executed as of the date first above written.

---

| | |
|:---|:---|
| <u>SPAC</u>: | <u>SPAC</u>: |
| **CANTOR EQUITY PARTNERS, INC.** | **CANTOR EQUITY PARTNERS, INC.** |
| By: | /s/ Brandon Lutnick |
| Name: | Brandon Lutnick |
| Title: | Chief Executive Officer |
| <u>Pubco</u>: | <u>Pubco</u>: |
| **TWENTY ONE CAPITAL, INC.** | **TWENTY ONE CAPITAL, INC.** |
| By: | /s/ Steven Meehan |
| Name: | Steven Meehan |
| Title: | Secretary |
| <u>SPAC Merger Sub</u>: | <u>SPAC Merger Sub</u>: |
| **TWENTY ONE MERGER SUB D** | **TWENTY ONE MERGER SUB D** |
| By: | /s/ Steven Meehan |
| Name: | Steven Meehan |
| Title: | Director |
| <u>The Company</u>: | <u>The Company</u>: |
| **TWENTY ONE ASSETS, LLC** | **TWENTY ONE ASSETS, LLC** |
| By: | /s/ Steven Meehan |
| Name: | Steven Meehan |
| Title: | Secretary |

---

---

| | |
|:---|:---|
| <u>The Sellers</u>: | <u>The Sellers</u>: |
| **TETHER INVESTMENTS, S.A. DE C.V.** | **TETHER INVESTMENTS, S.A. DE C.V.** |
| By: | /s/ Giancarlo Devasini |
| Name: | Giancarlo Devasini |
| Title: | Sole Administrator |
| **IFINEX, INC.** | **IFINEX, INC.** |
| By: | /s/ Paolo Ardoino |
| Name: | Paolo Ardoino |
| Title: | Director |
| *Solely for certain limited purposes specified herein:* | *Solely for certain limited purposes specified herein:* |
| <u>SoftBank</u>: | <u>SoftBank</u>: |
| **STELLAR BEACON LLC** | **STELLAR BEACON LLC** |
| By: | /s/ Karol Niewiadomski |
| Name: | Karol Niewiadomski |
| Title: | Manager |

---

## Exhibit 99.1

**Exhibit 99.1**

**Twenty One Expects to Add 5,800 Bitcoin Before Planned Listing, Increasing Holdings to At Least 43,500 BTC**

*Since April launch, planned contributions from Tether and institutional investors are anticipated to add $680M<sup>1</sup> in new Bitcoin, strengthening capital structure and boosting investor exposure.*

 

AUSTIN, Texas - Twenty One Capital, Inc. ("Twenty One" or "the Company"), the first-ever Bitcoin-native company that expects to be publicly listed at the closing of its previously announced business combination, today announced that it expects to receive approximately 5,800 additional Bitcoin from Tether, ahead of Twenty One's planned public listing. This brings Twenty One's total holdings at closing to over 43,500 Bitcoin.

These figures will make Twenty One the third-largest corporate Bitcoin treasury in the world, with its Bitcoin holdings acquired at a blended average cost of $$87,280.37 per Bitcoin. Upon Twenty One's listing at closing of the business combination with CEP, each share of Twenty One is expected to represent approximately 12,559 sats/share.<sup>2</sup>

Twenty One will introduce a performance metric based on Bitcoin Per Share (BPS), a transparent metric that reflects the amount of Bitcoin Twenty One holds, that each fully-diluted share of the Company represents. Unlike traditional earnings-per-share models, BPS allows investors to track Bitcoin-denominated performance directly. The Company is built to give shareholders exposure to Bitcoin without the legacy liabilities or dilution risks that can come with operating businesses outside of the Bitcoin ecosystem.

"We believe Bitcoin deserves a public company worthy of its ethos. With the partners, capital, team, and structure we've assembled, we feel like we can do anything, and we're just getting started. Twenty One is a new kind of public company: built on Bitcoin, backed with proof, and driven by a vision to reshape the global financial system. We're not here to beat the existing system, we're here to build a new one." said Jack Mallers, Co-Founder and CEO of Twenty One.

Following the closing of the business combination, Twenty One will hold the Bitcoin held on-balance-sheet as part of the Company's long-term treasury strategy. All of Twenty One's Bitcoin will be custodied transparently and verifiably on-chain, with real time Proof of Reserves available at <u>xxi.mempool.space.</u>

"Bitcoin represents more than just a financial asset, it's a foundational protocol for freedom, transparency, and resilience," said Paolo Ardoino, CEO of Tether. "Twenty One captures that ethos in corporate form. By anchoring its model entirely to Bitcoin, it breaks from legacy financial conventions and points toward a future where value is truly sovereign. This is the kind of vision we're proud to support."

As noted in the April announcement of the business combination between Twenty One and Cantor Equity Partners, Inc. ("CEP") (Nasdaq: CEP), a special-purpose acquisition company (SPAC) sponsored by an affiliate of Cantor Fitzgerald, at closing, Twenty One will be majority-owned by Tether and Bitfinex, with a significant minority stake held by SoftBank Group Corp. ("SoftBank Group"). The remainder of the equity will be held by PIPE investors, public shareholders of CEP and Cantor Fitzgerald, CEP's sponsor.

<sup>1</sup> Calculated using Bitcoin spot price (CME CF Bitcoin Reference Rate - New York Variant) as of July 28, 2025 of $117,969.55.

<sup>2</sup> Assumes no redemptions of CEP shareholders in connection with the closing of the business combination.

Twenty One has made a confidential submission of a draft registration statement on Form S-4 with the U.S. Securities and Exchange Commission ("SEC"). Twenty One will seek to trade under the ticker symbol "XXI" upon the closing of the business combination. The completion of the business combination is subject to customary closing conditions, including the approval of CEP's shareholders.

The 5,800 additional Bitcoin relates to Tether's previously disclosed purchase of 1,381 Bitcoin pursuant to subscription agreements dated June 19, 2025 between the Company, CEP and certain investors and Tether's pre-existing obligation to purchase 4,422 Bitcoin pursuant to the terms of the business combination agreement with CEP.

**About Twenty One Capital, Inc.**

At closing, Twenty One will be a newly formed operating company focused exclusively on Bitcoin-related business lines that, among other things, offer shareholders a differentiated opportunity to gain exposure to Bitcoin through the equity markets. With a Bitcoin-native operating structure and a strategy designed to deliver long-term value, Twenty One intends to become a leading vehicle for capital-efficient Bitcoin accumulation and related business development.

**About Cantor Equity Partners, Inc.**

Cantor Equity Partners, Inc. (Nasdaq: CEP) is a special purpose acquisition company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or other similar business combination with one or more businesses or entities. CEP is led by Chairman and Chief Executive Officer Brandon Lutnick and sponsored by an affiliate of Cantor Fitzgerald.

**About Cantor Fitzgerald, L.P.**

Cantor Fitzgerald, with more than 14,000 employees, is a leading global financial services and real estate services holding company and a proven and resilient leader for more than 79 years. Its diverse group of global companies provides a wide range of products and services, including investment banking, asset and investment management, capital markets, prime services, research, digital assets, data, financial and commodities brokerage, trade execution, clearing, settlement, advisory, financial technology, custodial, commercial real estate advisory and servicing, and more.

**About Tether**

Tether is a pioneer in the field of stablecoin technology, driven by an aim to revolutionize the global financial landscape. With a mission to provide accessible and efficient financial, communication, artificial intelligence, and energy infrastructure, Tether enables greater financial inclusion, and communication resilience, fosters economic growth, and empowers individuals and businesses alike.

As the creator of the largest, most transparent, and liquid stablecoin in the industry, Tether is dedicated to building sustainable and resilient infrastructure for the benefit of underserved communities. By leveraging cutting-edge blockchain and peer-to-peer technology, it is committed to bridging the gap between traditional financial systems and the potential of decentralized finance.

***Additional Information and Where to Find It***

Twenty One and Twenty One Assets, LLC intend to publicly file with the SEC a Registration Statement, which will include a preliminary proxy statement of CEP and a prospectus (the "Proxy Statement/Prospectus") in connection with the proposed business combination between CEP and Twenty One (the "Business Combination") and certain convertible senior secured notes offering and common equity PIPE financings (the "PIPE Offerings" and, together with the Business Combination, the "Proposed Transactions"). The definitive proxy statement and other relevant documents will be mailed to shareholders of CEP as of a record date to be established for voting on the Business Combination and other matters as described in the Proxy Statement/Prospectus. CEP and/or Twenty One will also file other documents regarding the Proposed Transactions with the SEC. This press release does not contain all of the information that should be considered concerning the Proposed Transactions and is not intended to form the basis of any investment decision or any other decision in respect of the Proposed Transactions. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, SHAREHOLDERS OF CEP AND OTHER INTERESTED PARTIES ARE URGED TO READ, WHEN AVAILABLE, THE PRELIMINARY PROXY STATEMENT/PROSPECTUS, AND AMENDMENTS THERETO, AND THE DEFINITIVE PROXY STATEMENT/PROSPECTUS AND ALL OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC IN CONNECTION WITH CEP'S SOLICITATION OF PROXIES FOR THE EXTRAORDINARY GENERAL MEETING OF ITS SHAREHOLDERS TO BE HELD TO APPROVE THE PROPOSED TRANSACTIONS AND OTHER MATTERS AS DESCRIBED IN THE PROXY STATEMENT/PROSPECTUS BECAUSE THESE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION ABOUT CEP, TWENTY ONE, TWENTY ONE ASSETS, LLC AND THE PROPOSED TRANSACTIONS. Investors and security holders will also be able to obtain copies of the Registration Statement and the Proxy Statement/Prospectus and all other documents filed or that will be filed with the SEC by CEP and Twenty One, without charge, once available, on the SEC's website at www.sec.gov or by directing a request to: Cantor Equity Partners, Inc., 110 East 59th Street, New York, NY 10022; e-mail: CantorEquityPartners@cantor.com, or upon written request to Twenty One Capital, Inc., via email at info@xxi.money, respectively.

NEITHER THE SEC NOR ANY STATE SECURITIES REGULATORY AGENCY HAS APPROVED OR DISAPPROVED THE PROPOSED TRANSACTIONS DESCRIBED HEREIN, PASSED UPON THE MERITS OR FAIRNESS OF THE BUSINESS COMBINATION OR ANY RELATED TRANSACTIONS OR PASSED UPON THE ADEQUACY OR ACCURACY OF THE DISCLOSURE IN THIS PRESS RELEASE. ANY REPRESENTATION TO THE CONTRARY CONSTITUTES A CRIMINAL OFFENSE.

The convertible notes of Twenty One and the CEP Class A ordinary shares to be issued in the PIPE Offerings have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act.

***Participants in the Solicitation***

CEP, Twenty One, Twenty One Assets, LLC and their respective directors, executive officers, certain of their shareholders and other members of management and employees may be deemed under SEC rules to be participants in the solicitation of proxies from CEP's shareholders in connection with the Proposed Transactions. A list of the names of such persons, and information regarding their interests in the Proposed Transactions and their ownership of CEP's securities are, or will be, contained in CEP's filings with the SEC, including CEP's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on March 28, 2025. Additional information regarding the interests of the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of CEP's shareholders in connection with the Proposed Transactions, including the names and interests of the directors and executive officers of CEP, Twenty One and Twenty One Assets, LLC will be set forth in the Registration Statement and Proxy Statement/Prospectus, which is expected to be filed with the SEC. Investors and security holders may obtain free copies of these documents as described above.

***No Offer or Solicitation***

The information contained in this press release is for informational purposes only and is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the Proposed Transactions and shall not constitute an offer to sell or exchange, or a solicitation of an offer to buy or exchange the securities of CEP, Twenty One or Twenty One Assets, LLC, or any commodity or instrument or related derivative, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, sale or exchange would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act or an exemption therefrom. Investors should consult with their counsel as to the applicable requirements for a purchaser to avail itself of any exemption under the Securities Act.

***Forward-Looking Statements***

This press release contains certain forward-looking statements within the meaning of the U.S. federal securities laws with respect to the Proposed Transactions involving CEP, Twenty One and Twenty One Assets, LLC, including expectations, intentions, plans, prospects regarding CEP, Twenty One, Twenty One Assets, LLC and the Proposed Transactions, including Twenty One's BPS and long-term treasury strategy, ability to give its shareholders exposure to Bitcoin, the custody and proof-of-reserves of Twenty One's Bitcoin holdings and statements regarding the anticipated timing of the completion of the Proposed Transactions, and the satisfaction of closing conditions to the Proposed Transactions. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "potential," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events or conditions that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including, but not limited to: the risk that the Proposed Transactions may not be completed in a timely manner or at all, which may adversely affect the price of CEP's securities; the risk that the Proposed Transactions may not be completed by CEP's business combination deadline; the failure by the parties to satisfy the conditions to the consummation of the Business Combination, including the approval of CEP's shareholders, or any of the PIPE Offerings; failure to realize the anticipated benefits of the Proposed Transactions; the level of redemptions of CEP's public shareholders which may reduce the public float of, reduce the liquidity of the trading market of, and/or maintain the quotation, listing, or trading of the CEP Class A ordinary shares or the shares of Twenty One's Class A Stock; the lack of a third-party fairness opinion in determining whether or not to pursue the Business Combination; the failure of Twenty One to obtain or maintain the listing of its securities on any securities exchange after closing of the Proposed Transactions; costs related to the Proposed Transactions and as a result of becoming a public company; changes in business, market, financial, political and regulatory conditions; risks relating to Twenty One's anticipated operations and business, including the highly volatile nature of the price of Bitcoin; the risk that Twenty One's stock price will be highly correlated to the price of Bitcoin and the price of Bitcoin may decrease between the signing of the definitive documents for the Proposed Transactions and the closing of the Proposed Transactions or at any time after the closing of the Proposed Transactions; risks related to increased competition in the industries in which Twenty One will operate; risks relating to significant legal, commercial, regulatory and technical uncertainty regarding Bitcoin; risks relating to the treatment of crypto assets for U.S. and foreign tax purposes; risks that after consummation of the Proposed Transactions, Twenty One experiences difficulties managing its growth and expanding operations; the risks that growing Twenty One's learning programs and educational content could be difficult; challenges in implementing Twenty One's business plan including Bitcoin-related financial and advisory services, due to operational challenges, significant competition and regulation; the outcome of any potential legal proceedings that may be instituted against CEP, Twenty One, Twenty One Assets, LLC or others following announcement of the Proposed Transactions, and those risk factors discussed in documents that CEP, Twenty One and/or Twenty One Assets, LLC filed, or that will be filed, with the SEC.

The foregoing list of risk factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "*Risk Factors*" section of the final prospectus of CEP, dated as of August 12, 2024 and filed by CEP with the SEC on August 13, 2024, CEP's Quarterly Reports on Form 10-Q, CEP's Annual Report on Form 10-K and the Registration Statement that will be filed by Twenty One and Twenty One Assets, LLC and the Proxy Statement/Prospectus contained therein, and other documents filed by CEP, Twenty One Assets, LLC and Twenty One from time to time with the SEC. These filings do or will identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. There may be additional risks that neither CEP, Twenty One Assets, LLC nor Twenty One presently know or that CEP, Twenty One and Twenty One Assets, LLC currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements.

Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and each of CEP, Twenty One and Twenty One Assets, LLC assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither CEP, Twenty One nor Twenty One Assets, LLC gives any assurance that either CEP, Twenty One or Twenty One Assets, LLC will achieve its expectations. The inclusion of any statement in this press release does not constitute an admission by CEP, Twenty One or Twenty One Assets, LLC or any other person that the events or circumstances described in such statement are material.

**MEDIA CONTACTS**

**Twenty One**

<u>press@xxi.money</u>

**Tether**

<u>press@tether.to</u>