Adam Back’s Bitcoin treasury agreement died, but its $15 million obligation did not
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Adam Back-led BSTR's plan to become a public Bitcoin treasury company through Cantor Equity Partners the reporter, a special-purpose acquisition company, ended on Aug. 20.
Key facts
- The first $10 million must be paid on or before Sept. 19, and the remaining $5 million on or before Dec. 1
- The parties entirely terminated the July 16, 2025 business combination agreement, as amended on March 25, 2026, according to an SEC-filed current report
- Bitcoin is +1.05% over the past 24 hours and currently sits at rank # 1 by market cap
- Adam Back-led BSTR's plan to become a public Bitcoin treasury company through Cantor Equity Partners the reporter, a special-purpose acquisition company, ended on Aug. 20
Summary
Under the executed termination agreement, BSTR Holdings (Cayman) must pay Cantor Equity Partners the reporter. The first $10 million must be paid on or before Sept. 19, and the remaining $5 million on or before Dec. 1. A delay of more than seven days would strip the other parties of specified legal protections granted by the Cantor side. The parties entirely terminated the July 16, 2025 business combination agreement, as amended on March 25, 2026, according to an SEC-filed current report.