Bitcoin company Twenty One raised an additional $100 million, bringing its total funding to $685 million.

Gate News bot message, documents submitted to the SEC on Thursday indicate that Bitcoin fund management company Twenty One Capital raised an additional $100 million through convertible preferred secured notes, bringing its total funding to $685 million. The company is currently advancing its merger plan with Nasdaq-listed Cantor Equity Partners (CEP).

Regulatory documents show that the new financing comes from existing investors and sponsors who exercised their option to purchase more notes (originally granted in the financing round in April).

The coupon rate of the new notes is 1%, and the maturity date is 2030. The newly added $100 million plus the initially committed $385 million brings the total note financing to $485 million. This does not include the $200 million private investment public equity (PIPE) plan disclosed last month.

Twenty One Capital was launched by Cantor's Brandon Lutnick through a SPAC structure, with notable owners including iFinex and Tether, and will be led by Strike CEO Jack Mallers.

Source: CoinDesk