Digital Asset Manager Parataxis Holdings has been officially made public through a SPAC deal with Silverbox Corp IV, confirming that you will be checking the previous list. It was announced in a press release on Wednesday.
The new entity is called Parataxis Holdings Inc. and aims to trade under the New York Stock Exchange (NYSE) ticker “PRTX.”
At a $10 share price, the deal valued the total company at $400 million, and could double that number if Parataxis exercises its right to raise an additional $400 million through a stock purchase agreement. Approximately $31 million has already been raised and allocated to buy Bitcoin
gives future shareholders immediate exposure to assets.
Parataxis manages Bitcoin with an aggressive strategy that blends market exposure and yield generation technology. Unlike companies that simply own BTC, Parataxis seeks to generate revenue through low volatile transactions and Treasury-style businesses. The platform is run by veterans of Parataxis Capital Management and serves clients from institutions, including pension companies and family offices.
In June, Parataxis made its first international move by gaining control over the stock of Bridge Biotherapeutics, a healthcare company listed on South Korea's Kosdaq. The company was renamed Korea Parataxis and will serve as a regional base for Bitcoin financial strategy. Since the announcement, Bridge's stock has risen by 350%, indicating strong investors' demand for Bitcoin-Proxy Play.
South Korea offers a large user base, political support for digital assets, with no spots in particular for Bitcoin ETF. A similar strategy has gained traction in Japan, with stock prices rising sharply after companies like Metaplanet pivoting to Bitcoin.
The Parataxis-Spac transaction also allows the company to expand its operations in the US Treasury and investigate other “special circumstances” investments. If successful, Parataxis could become one of the few publicly listed companies that are actively exposed to Bitcoin outside of their ETF structure.
The transaction is expected to fill pending shareholder approvals and reviews from the Securities and Exchange Commission.
