The Bitcoin (BTC) Asset Manager Parataxis to go public to the $ 400m Spac Deal -Backed SilverBox
Digital Asset Manager Parataxis Holdings are officially going public through a SilverBox Corp IV spac deal, confirming previous plans to list, it announced in a Press release On Wednesday.
The new creature will be called Parataxis Holdings Inc. and aims to trade under the “PTX” ticker with the New York Stock Exchange (NYSE).
At a $ 10 sharing price, the deal values the combined company for $ 400 million, with the potential double that figure if the parataxis is taking the right to raise an additional $ 400 million through a sharing purchase agreement. Nearly $ 31 million has been raised and marked for the purchase of Bitcoin
Providing future shareholders immediate exposure to property.
Parataxis manages Bitcoin in an active approach that mixes market exposure with yield -generating techniques. Unlike companies that only hold BTC, Parataxis aims to generate revenue through low-volatility trading and Treasury style operation. The platform is governed by veterans from Parataxis Capital Management and serves institutional clients, including pension firms and family offices.
In June, Parataxis made its first -first international transition of Getting a Stake Controlling on the Bridge BiotherapeuticsA health care company listed in South Korea’s Kospital. That firm will be replaced by Parataxis Korea and will serve as a regional basis for the Bitcoin treasury approach. Since the announcement, Bridge shares jumped 350%, showing strong investor demand for playing bitcoin-proxy.
South Korea offers a large user base, political support for digital assets, and notably, there is no Bitcoin ETF-which makes the market fertile for public companies dedicated to BTC, the company said. Similar techniques get traction in Japan, where companies like metaplanet have seen price sharing prices after pivoting Bitcoin.
The Parataxis-Spac deals will also allow the firm to expand US treasury operations and explore other “special scenarios” investments. If successful, Parataxis could be one of the few companies listed in public that offers direct and active exposure to Bitcoin outside an ETF structure.
It is expected to close the transaction to close the pending approved shareholder and a review from the Securities and Exchange Commission.
