CEPO is progressing with its business combination (Proposed Transactions) with BSTR Holdings, Inc. (Pubco), BSTR Holdings (Cayman) (Seller), and BSTR Newco, LLC (Newco). Pubco confidentially submitted an amended draft registration statement on Form S-4 with the SEC on February 13, 2026, following a prior submission in October 2025. The closing of the Proposed Transactions is targeted for early Q2 2026, subject to customary closing conditions. The Closing Bitcoin Price for Bitcoin contributed by the Seller and certain private placement investors will be the 10-day average of the CME CF Bitcoin Reference Rate New York Variant, ending two days prior to closing. The combined entity, BSTR Holdings, Inc., will launch with a hybrid capital stack including 30,021 Bitcoin and approximately $1.4 billion in USD-denominated debt and equity financing. The Bitcoin capital includes 25,000 BTC from the founding team and 5,021 BTC from an investor in-kind common equity PIPE, both priced at $10.00 per share. The USD financing comprises approximately $575 million in convertible notes, $255 million net proceeds from convertible preferred stock, $400 million in common equity (Fiat PIPE), and approximately $207.5 million from CEPO's SPAC trust account (subject to redemptions). The new executive team for BSTR Holdings, Inc. will include Dr. Adam Back as CEO, Katherine Dowling as President, Sean Bill as CIO, and Bob Stefanowski as CFO.