đ Parataxis Holdings SPAC Merger
Parataxis Holdings, a Bitcoin-native asset manager, is merging with SilverBox Corp IV (SBXD).
The deal is expected to raise up to $640 million in gross proceeds:
$240M from the SPAC trust and committed equity (subject to redemptions)
Up to $400M via an equity line of credit (ELOC)
$31M already earmarked and deployed to buy Bitcoin immediately
At a $10/share price, the post-merger equity is valued at $400M, with potential upside to $800M if full ELOC is tapped
The combined company, to trade under ticker PRTX on the NYSE, focuses on Bitcoin treasury accumulation and yield generation through institutional-grade strategies ď
Parataxis is also expanding operations into the South Korean market via its existing bridge with Bridge Biotherapeutics (Parataxis Korea), whose stock has risen ~4.5Ă since June 2025
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đ Industry Context & Comparisons
Parataxis joins a growing set of Bitcoin-focused SPAC mergers, such as those involving Cantor Equity Partners and Bitcoin Standard.
Bitcoin Standard Treasury Company plans to list on Nasdaq via a Cantor-backed SPAC with over 30,000 BTC on its balance sheet; the merger is expected to close in Q4 2025
Another high-profile deal is Cantor Equity Partnersâ merger with Twenty One Capital, which aims to hold ~42,000 BTC, making it one of the largest corporate Bitcoin treasuries globally. That SPAC's stock has surged ~462% as investor interest grew
Analysts note that while crypto SPACs are gaining traction, SPAC investments overall have z Partner Capital Raised BTC Allocation Exchange Ticker
Parataxis Holdings SilverBox Corp IV Up to $640M ($240M + ELOC) $31M immediately, then build treasury NYSE PRTX
Bitcoin Standard Cantor-backed SPAC â 30,000+ BTC Nasdaq â
Twenty One Capital Cantor Equity (CEP) â ~42,000 BTC â â
#BitcoinSPACDeal
