Bitcoin Asset Manager Parataxis to Go Public in $400M SPAC Deal Backed by SilverBox
What to know:
Parataxis has confirmed a merger with SilverBox Corp IV, which will take the firm public at a $400 million equity valuation, with potential to double the valuation.
The company has already raised $31 million in capital, which will be used to purchase bitcoin ahead of its public listing.
Parataxis is expanding into South Korea through a rebrand of Bridge Biotherapeutics, which the company acquired in June.
Digital asset manager Parataxis Holdings is officially going public through a SPAC deal with SilverBox Corp IV, confirming earlier plans to list, it announced in a press release on Wednesday.
The new entity will be called Parataxis Holdings Inc. and aims to trade under the ticker “PRTX” on the New York Stock Exchange (NYSE).
At a $10 share price, the deal values the combined company at $400 million, with the potential to double that figure if Parataxis exercises the right to raise an additional $400 million through a share purchase agreement. About $31 million has already been raised and earmarked for purchasing bitcoin (BTC), giving future shareholders immediate exposure to the asset.
Parataxis manages bitcoin in an active strategy that blends market exposure with yield-generating techniques. Unlike firms that simply hold BTC, Parataxis seeks to generate income through low-volatility trading and treasury-style operations. The platform is run by veterans from Parataxis Capital Management and serves institutional client, including pension firms and family offices.
