Latest news with #SilverBoxCorpIV
Yahoo
4 days ago
- Business
- Yahoo
Bitcoin Asset Manager Parataxis to Go Public in $400M SPAC Deal Backed by SilverBox
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. In June, Parataxis made its first international move by acquiring a controlling stake in Bridge Biotherapeutics, a healthcare firm listed on South Korea's KOSDAQ. That firm will be renamed Parataxis Korea and serve as a regional base for its bitcoin treasury strategy. Since the announcement, Bridge shares have jumped 350%, showing strong investor demand for the bitcoin-proxy play. South Korea offers a large user base, political support for digital assets, and notably, no spot Bitcoin ETF — making the market fertile ground for BTC-focused public firms, the company said. Similar strategies have gained traction in Japan, where companies like Metaplanet have seen share prices surge after pivoting to bitcoin. The Parataxis-SPAC deal will also allow the firm to expand its U.S. treasury operations and explore other 'special situations' investments. If successful, Parataxis could become one of the few publicly listed companies offering direct and active exposure to bitcoin outside of an ETF structure. The transaction is expected to close pending shareholder approval and a review from the Securities and Exchange Commission. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
4 days ago
- Business
- Bloomberg
Digital Asset-Firm Parataxis to Go Public Via SilverBox Deal
Parataxis Holdings, a digital-asset management platform, has agreed to go public with blank-check firm SilverBox Corp IV, joining a wave of publicly traded Bitcoin treasury companies. The deal values the combined companies at about $400 million, according to a statement confirming an earlier Bloomberg News report. The deal will add up to about $240 million in cash to Parataxis, including $31 million of equity that will be funded immediately to acquire Bitcoin. After closing, Parataxis will have the right to issue and sell up to another $400 million in equity.
Yahoo
12-06-2025
- Business
- Yahoo
Parataxis Eyes Public Market via SPAC Merger With SilverBox (SBXD)
Parataxis Holdings, a Bitcoin investment firm based in New York, is exploring a public listing through a merger with SilverBox Corp IV (SBXD, Financials), a special purpose acquisition company with $200 million in capital. Warning! GuruFocus has detected 10 Warning Signs with CRWV. SilverBox Corp IV, which trades on the New York Stock Exchange under the ticker SBXD, confirmed a non-binding letter of intent with Parataxis Holdings LLC, an affiliate of Parataxis Capital Management. The announcement follows increasing institutional interest in digital assets and could bring Parataxis' crypto investment platform to public markets. If completed, the merger would create a publicly traded company focused on providing institutional exposure to bitcoin (BTC-USD) and other crypto assets via proprietary strategies. Parataxis aims to serve large asset managers and corporate treasuries positioning bitcoin as a strategic asset. SilverBox Capital co-managing partner Joe Reece said the deal presents an opportunity to bring a highly scalable digital asset platform to the public. The firms said they are particularly targeting South Korea as an initial growth market, calling it an underserved region with strong digital asset demand. Clear Street is advising on the transaction. No binding agreement has been reached, and the deal remains subject to negotiation. SilverBox completed its IPO in August 2024. Its stock has risen 6.5% year to date, with most of the gains coming after the SPAC merger discussions were disclosed. The proposed deal follows a similar trend in the digital asset SPAC space. Anthony Pompliano's ProCap Acquisition Corp, which also targets crypto investments, has rallied 5.5% since its May 20 Nasdaq debut. This article first appeared on GuruFocus. Sign in to access your portfolio
