Legal – BSTR (original) (raw)

The statements and communications contained on this website are intended for information only. None of them constitutes a solicitation, an offer or a recommendation to buy or sell any securities for any company, or to conduct any other transactions.

No warranty, either express, or implied, is given for the information and opinions published on the website. Actions based on statements made therein are the responsibility of those who take them. BSTR Holdings, Inc. and its affiliates (“BSTR”) therefore disclaim all liability for damage which may result directly indirectly from the use, performance or consultation of the BSTR website, in connection with access to the website itself or other websites linked to it.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This website contains certain forward-looking statements within the meaning of the U.S. federal securities laws with respect to (i) the business combination involving BSTR and Cantor Equity Partners I, Inc. (“CEPO”) as disclosed in the press release dated July 16, 2025, (ii) the private placement of convertible notes by BSTR, with options to purchase additional convertible notes and shares of convertible preferred stock, pursuant to the subscription agreements, dated July 16, 2025, among BSTR, CEPO and the investors named therein, and the private placement of convertible notes by BSTR, pursuant to the subscription agreements dated August 7, 2025, among BSTR, CEPO and the investors named therein (the “Convertible Notes Private Placements”), (iii) the private placement of shares of convertible preferred stock of BSTR, pursuant to the subscription agreement, dated July 16, 2025, among BSTR, CEPO and the investor named therein, and the private placement of shares of convertible preferred stock of BSTR, pursuant to the subscription agreements, dated August 25, 2025, among BSTR, CEPO and the investors named therein (the “Convertible Preferred Stock Private Placements”), (iv) the issuance of Class A ordinary shares by CEPO, which class A ordinary shares will be purchased in cash or Bitcoin, pursuant to the subscription agreements, dated July 16, 2025, among BSTR, CEPO and the investors named therein (the “Equity Private Placement”), and (v) the private placement of membership interests by Newco, which membership interests will be purchase in Bitcoin, pursuant to the subscription agreements, dated July 16, 2025, among BSTR, CEPO, Newco and the investors named therein (the “Newco Private Placement”, and, together with the Convertible Notes Private Placements, the Convertible Preferred Stock Private Placements and the Equity Private Placement, the “Private Placements”), all in connection with a potential business combination among the parties and related transactions (the “Business Combination” and together with the Private Placements, the “Transactions”).

Such forward-looking statements include, but are not limited to, expectations, hopes, beliefs, intentions, plans, prospects, financial results or strategies regarding BSTR, CEPO, and the Transactions; statements regarding the anticipated benefits and timing of the completion of the Transactions; the satisfaction of closing conditions to the Transactions and the level of redemptions of CEPO’s public shareholders; the assets held by BSTR; the price, yield, net asset value, and volatility of Bitcoin; the future supply of and demand for Bitcoin; Bitcoin’s growing prominence as a digital asset and as the foundation of a new monetary system; the macroeconomic, and political conditions surrounding Bitcoin; the value of other investable assets and the correlation of Bitcoin’s value to other assets; the market risk of certain investable assets; Bitcoin’s ability to hedge inflation and economic uncertainty; BSTR’s listing on an applicable securities exchange; BSTR’s ability to grow its stockholders’ ownership of Bitcoin over time; the performance, value, and return of BSTR’s Bitcoin holdings; BSTR’s share price performance and market position; BSTR’s contemplated business strategies; BSTR’s ability to generate Bitcoin yield, partner with Bitcoin technology companies, and produce and provide Bitcoin-related products, advisory, and other services; BSTR’s ability to catalyze the fusion of Bitcoin into finance and capital markets; BSTR’s position in the Bitcoin ecosystem; BSTR’s ability to access legacy Bitcoin investors; any projected outcomes or expectations of crypto treasury strategies or businesses; expectations of Bitcoin to perform as a superior treasury asset; BSTR’s plans and use of proceeds; objectives of management for future operations of BSTR; pro forma ownership of BSTR; the upside potential return on investment and opportunity for investors, including from BSTR’s Bitcoin holdings, relating to participation in the Private Placement Investments or any future securities resulting from any Transactions; any pro forma values associated with any Transactions or with BSTR; any proposed Transaction structures and offering terms; plans and expectations for Bitcoin adoption, value creation, investor benefits, and strategic advantages; market size and growth opportunities; regulatory conditions; competitive position and the interest of other corporations in similar business strategies; technological and market trends; future financial condition and performance and expected financial impacts of the Transactions; any expected benefits, future scaling, and efficiency upgrades associated with Bitcoin; and any expectations, intentions, strategies, assumptions, or beliefs about future events, results of operations, or performance, or that do not solely relate to historical or current facts.

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 on this website, including, but not limited to: the risk that the Transactions may not be completed in a timely manner or at all, which may adversely affect the price of CEPO’s securities; the risk that the Transactions may not be completed by CEPO’s business combination deadline; the failure by the parties to satisfy the conditions to the consummation of the Transactions, including the approval of CEPO’s shareholders, or, any of the Private Placements; failure to realize the anticipated benefits of the Transactions; the level of redemptions of CEPO’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 Class A ordinary shares of CEPO or the shares of Class A common stock of BSTR; the lack of a third-party fairness opinion in determining whether or not to pursue the Transactions; the failure of BSTR to obtain or maintain the listing of its securities on any securities exchange after closing of the Transactions; costs related to the Transactions and as a result of becoming a public company; changes in business, market, financial, political and regulatory conditions; risks relating to BSTR’s anticipated operations and business, including the highly volatile nature of the price of Bitcoin; the risk that BSTR’s stock price will be highly correlated to the price of Bitcoin and that the price of Bitcoin may decrease between the signing of the definitive documents for the Transactions and the closing of the Transactions or at any time thereafter; risks related to increased competition in the industries in which BSTR 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 Business Combination, BSTR experiences difficulties managing its growth and expanding operations; challenges in implementing BSTR’s business plan, including Bitcoin-related advisory services and other Bitcoin-related services, due to operational challenges, significant competition and regulation; being considered to be a “shell company” by any stock exchange on which BSTR’s Class A common stock will be listed or by the SEC, which may impact the ability to list BSTR’s Class A common stock and restrict reliance on certain rules or forms in connection with the offering, sale or resale of securities; the outcome of any potential legal proceedings that may be instituted against CEPO, BSTR or others following announcement of the Business Combination; and those risk factors discussed in documents of BSTR, or CEPO filed, or will file, 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 CEPO’s filings with the SEC, and in the Registration Statement BSTR and the CEPO intend to file with the SEC, and other documents filed by CEPO and BSTR 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 CEPO nor BSTR presently know or that CEPO and BSTR 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 place undue reliance on forward-looking statements, and each of CEPO and BSTR assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither CEPO nor BSTR gives any assurance that either CEPO or BSTR will achieve its expectations. The inclusion of any statement on this website does not constitute an admission by BSTR or CEPO or any other person that the events or circumstances described in such statement are material.

The information contained on this website is for informational purposes only. Nothing on this website is either an offer to purchase, or exchange, or a solicitation of an offer to sell, shares of BSTR, CEPO or any other entity. Nothing on this website is a solicitation of a proxy from a security holder of BSTR, CEPO or any other company.

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS

The actual performance realized by any given investor will depend on numerous factors and circumstances. This website may include returns, yields, or other financial or performance metrics. These are not intended to be direct benchmarks for any particular investment or investment strategy. There are inherent risks in making investment decisions, including the loss of part or all of your investment capital, and BSTR’s future performance is subject to risks, including those described above under “CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS”. Not all risks are appropriate for all investors and you are urged to seek guidance from an independent licensed advisor with respect to any investment decision.

EXCLUSION OF LIABILITY

BSTR shall not be liable for any claims, expenses, damages (including direct, indirect, special or consequential damages), or loss of profits, opportunities or information arising from: the use of or reliance on information contained on this website; any inaccuracy or omission in such information or failure to keep the information current; use of any third party websites that may be linked to this website; any Internet software used in connection with this website or computer viruses or other destructive programs encountered as a result of using this website; and any other matter connected with this website; even if BSTR is made aware of the possibility of such claims, expenses, damages or losses.

NOT RESPONSIBLE FOR INTERNET SOFTWARE OR COMPUTER VIRUSES

Due to technical difficulties inherent in the Internet, Internet software or transmission problems could produce inaccurate or incomplete copies of information contained on this website. Computer viruses or other destructive programs may also be inadvertently downloaded from the website. BSTR shall not be liable for Internet software, computer viruses or destructive programs and recommends that you install appropriate anti-virus or other protective software.

NOT RESPONSIBLE FOR LINKED WEBSITES

BSTR provides links to third party websites for your convenience only and the inclusion of these links does not imply that BSTR monitors or endorses these websites. Accordingly, BSTR accepts no responsibility for such websites.

WEBSITE IS PROVIDED AS A SERVICE ONLY

This website is not intended as a solicitation or offering of securities in any jurisdiction and the information contained herein in no way should be construed or interpreted as such. No securities commission or other regulatory authority in the United States, or any other country or jurisdiction has in any way passed upon this information and no representation or warranty is made by BSTR to that effect. The information on this website including any reports, analysis, charts, ratios and financial measures should not be used for the purpose of making investment decisions concerning BSTR securities or any other securities. Printed copies of public disclosure documents may be obtained directly from BSTR Investor Relations.

EXTERNAL DATA LIMITATIONS

BSTR and third-party providers are not responsible for any errors or omissions in the information contained on or accessed through this website. All such information is provided “as is.” BSTR and third-party providers disclaim all express, implied and statutory warranties.

Except for claims that cannot be excluded by applicable law, BSTR and third-party providers shall not have any liability to any user or third party arising from use of or access to this website.

Some jurisdictions do not allow the exclusion or limitation of implied warranties or liability for incidental or consequential damages. Any provision declared invalid shall be deemed severable and shall not affect the enforceability of the remainder of this disclaimer. BSTR reserves the right to amend this disclaimer at any time without notice.

Privacy Statement

Last updated February 22, 2026

Thank you for visiting bstr.com (the “Site”). The Site is operated by BSTR Holdings, Inc. (“BSTR,” “we,” “our,” or “us”).

This privacy statement (“Privacy Statement”) sets out the basis on which any Personal Information we collect from you (“you,” “your,” or “customer”), or that you provide to us, will be processed by us. By “Personal Information,” we mean any information which, either alone or in combination with other data, enables you to be directly or indirectly identified, for example, your name, email address, username, contact details, or any unique identifier such as an IP address, device ID, or other online identifier.

Please read the following carefully to understand what Personal Information we collect, how it is used, and the ways it can be shared by us.

Where we process Personal Information of individuals, including those located in the United Kingdom or European Economic Area, we do so in accordance with applicable privacy and data protection laws, including the UK and EU General Data Protection Regulation (collectively, the “GDPR”).

The data controller of your Personal Information is BSTR Holdings, Inc. of 251 Little Falls Drive, Wilmington, County of New Castle, 19808.

1. Our Processing of Your Personal Information

Purpose Personal Information From You Personal Information From Your Devices Legal Basis
Establish and maintain a commercial relationship with you (e.g. account creation and changes) First name, last name, email address, username, password, country of residence, state/province, time zone IP address, browser type and version, time zone setting, plug-in types and versions, operating system and platform, visit dates and times, page interaction data (scrolling, clicks, mouse-overs), methods used to leave the page, phone number used to contact us (1) Performance of a contract, (2) Legitimate interest
Understand your needs and eligibility for products and services Contact details — Legitimate interest
Deliver our Services to you Username, email address, digital asset wallet addresses, deposit and withdrawal records, deposit addresses, balance history, bank statements, bank account numbers, Personal Information posted by you — Performance of a contract
Inform you about trading and financing features, developments, and products Contact details — Legitimate interest
Process billing and collect fees Contact details, email address, wallet addresses, deposit and withdrawal data, deposit addresses, balance history, bank statements, bank account numbers, Personal Information posted by you — Performance of a contract
Administer the Site (system administration, usage analytics, service enhancements, announcements) Contact details IP address, routing data, system configuration data, geolocation data, browser type, access times, requested URLs, referral URLs (1) Legitimate interest, (2) Compliance with a legal obligation, (3) Performance of a contract
Detect and troubleshoot technical issues — IP address, browser type and version, time zone setting, plug-in types and versions, operating system, platform, timestamps, interaction data, phone number used to contact us Legitimate interest
Comply with industry self-regulatory, audit and security requirements Full name, email, username, government-issued ID (e.g. passport), two forms of ID, date of birth, photograph, signature, Skype ID and call logs, bank account details, proof of residence, employment status and employer details, certificate of incorporation, business registration, articles of association, ownership and control structure, list of directors and officers, authorized signature list, board minutes, certificate of good standing, name of ultimate beneficial owner (UBO) — (1) Compliance with a legal obligation, (2) Legitimate interest
Protect the rights, property or safety of us, our clients or others Any Personal Information listed in this table, subject to necessity and data minimization — Legitimate interest
Conduct surveys and obtain user feedback Contact details — Legitimate interest
Provide you with news and general interest information as a BSTR customer Email address IP address and related technical data Consent
Comply with legal and regulatory obligations (e.g. AML/KYC checks, sanctions screening, risk assessment) As above, including full name, email, gender, date of birth, nationality, parental names, blockchain wallet addresses, transactional data, ID documents, proof of address, employment and business information Metadata (e.g. behavioral patterns from blockchain activity indicating phishing clusters or address poisoning), and technical data Compliance with a legal obligation

When we say that we process your Personal Information on the legal basis of legitimate interest, it is because we consider that we have a legitimate interest (for ourselves or a third party) to do so. This includes conducting analytics to improve and optimize the Site and the Services, protecting our interests and enforcing agreements with others, and complying with industry self-regulatory requirements. We ensure we balance any potential impact on you and your rights before we process your Personal Information on that basis. You can obtain further information about how we assess our legitimate interests against your rights by contacting us. Please also consult the section “Your Rights” below.

It is important that the Personal Information we hold about you is accurate and current. Please keep us informed if your Personal Information changes during your relationship with us. You can do so by lodging a customer support ticket. We will endeavor to update those changes within a reasonable timeframe.

We do not rely on consent as a legal basis for processing your Personal Information except in relation to our use of cookies and when we send third-party direct marketing communications via email. From time to time, we may share your Personal Information with third parties with your consent.

Aggregated Data. We may aggregate personal and other data in a way that does not directly or indirectly identify any individual. This may be used to improve our Services, develop insights, market to partners, or otherwise support our business. Provided that such data does not directly or indirectly identify you, it is not considered Personal Information and is not covered by this Privacy Statement.

2. Security and Confidentiality.

BSTR is committed to protecting your privacy. Internally, only people with a business need to know Personal Information, or whose duties reasonably require access to it, are granted access to customers’ Personal Information. Such individuals will only process your Personal Information on our instructions and are subject to a duty of confidentiality. We audit our compliance regularly.

The Site’s systems and data are reviewed periodically to ensure that you are receiving a quality service and that appropriate security measures are in place. We have procedures to deal with any actual or suspected data breach and will notify you and any applicable regulator where required by law.

BSTR takes reasonable measures to protect Personal Information. However, transmission of information via the Internet is not completely secure. While we seek to protect your Personal Information, we cannot guarantee the security of data transmitted over the Site.

3. Why and with Whom We Share Your Personal Information

As necessary, we may share your Personal Information with:

We also disclose your Personal Information to third parties:

International transfers. We do not currently expect to transfer Personal Information outside of your country of residence or, in the case of the United Kingdom and EU Member States, outside of these jurisdictions. If this position changes, we will take reasonable steps to ensure that any such transfers are subject to appropriate safeguards in accordance with applicable law. You may contact us at privacy@bstr.com for further information.

4. Data Retention

We have data retention and deletion policies designed to retain Personal Information for no longer than necessary for the purposes set out herein or as otherwise required to meet legal or business needs. Because of those retention requirements, in certain cases, we might not be able to honor erasure requests.

5. Your Rights

You may access and verify your Personal Information held by BSTR. Where consent is the legal basis for processing of your Personal Information and, subject to any legal or contractual restrictions, withdraw your consent, in each case, by submitting a written request to privacy@bstr.com. Our electronic marketing communications also contain an opt-out mechanism and options to update your contact information or change your preferences at any time.

In addition to your right to access your Personal Information and withdraw your consent for processing, you also have the following rights in relation to your Personal Information: (1) rectification, (2) erasure, (3) objection to processing, (4) restriction of processing, and (5) portability. We will do our best to honor your request promptly. For cookies, this is done by setting up the cookies’ preferences.

No fee usually required.

You will not have to pay a fee to access your Personal Information or to exercise any of your other rights. We may charge a reasonable fee if your request is clearly unfounded, repetitive or excessive. Alternatively, we may refuse to comply with your request in these circumstances

What we may need from you.

We may need to request specific information from you to help us confirm your identity and ensure your right to access your Personal Information (or to exercise any of your other rights). This is a security measure to ensure that Personal Information is not disclosed to any person who has no right to receive it. We may also contact you to ask you for further information in relation to your request to speed up our response.

Time limit to respond.

We try to respond to all legitimate requests within one month. Occasionally it may take us longer than a month if your request is particularly complex or you have made a number of requests. In this case, we will notify you and keep you updated.

7. Legal Disclaimer

This Privacy Statement is separate from, and does not limit, any legal disclaimers or securities-related disclosures that may be published in connection with the Site or the Services. Please refer to our Legal Disclaimer for additional information.

8. Changes to this Privacy Statement

Any changes we make to our Privacy Statement in the future will be posted on this page and, where material, notified to you by email. Please check back frequently to see any updates or changes to our Privacy Statement.

9. Contact

Questions, comments and requests regarding this Privacy Statement should be addressed by email to privacy@bstr.com.

Appendix — List of Third-Party Service Providers with Whom Personal Information May Be Shared

Party Name and Jurisdiction Purpose Data Disclosed
Cloud providers For storage purposes. User names, corporate documentation, dates of birth, identifying documentation, correspondence, transactional activity and analysis, financial information.
Cloudflare, Inc. (US) — Privacy Policy available at https://www.cloudflare.com/privacypolicy/ To provide DNS management, security, and content delivery network (CDN) services, enhancing website performance and accessibility. We also utilize its geolocation identification services to manage access to certain parts of our platforms at https://bstr.com/ IP addresses, traffic routing data, system configuration information, and other information about traffic to and from our websites, devices, applications, and/or networks.
Legal Counsel As part of attorney–client relationships, legal counseling, and litigation Any relevant account information, as applicable.

[^1]: This list does not include banks to which Personal Information is transferred for payment purposes in accordance with international banking practice.