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Parataxis Gains Board Nod for SPAC Deal, Poised for NYSE Debut and $640M Capital Raise

Proceeds including $31 million earmarked for bitcoin purchases will fund an active yield strategy in the U.S., establishing operations in South Korea.

Bitcoin asset manager parataxis to go public in $400m spac deal backed by silverbox
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Parataxis
Bitcoin-native Parataxis to go public in $640M SPAC deal with SilverBox

Overview

  • The SPAC merger with SilverBox Corp IV has received board approval from both companies and now requires shareholder consent and SEC review to close.
  • Upon completion, Parataxis Holdings Inc. will list on the New York Stock Exchange under the ticker PRTX with a $400 million valuation at a $10 share price.
  • The transaction could deliver up to $640 million in gross proceeds, consisting of $240 million from the SPAC trust and equity commitments and a $400 million equity line of credit.
  • Approximately $31 million of the capital raise has been precommitted for immediate bitcoin acquisitions, providing direct BTC exposure to shareholders.
  • June’s acquisition of Bridge Biotherapeutics has been rebranded as Parataxis Korea to serve as the regional hub for the company’s bitcoin treasury operations.