Bitcoin asset manager Parataxis will go public via a SPAC deal that could see up to $640 million in gross proceeds to fund a Bitcoin treasury.
Digital asset investment management firm Parataxis is the latest crypto firm announcing it will go public through a special purpose acquisition company (SPAC) merger.
Parataxis said on Wednesday that it had agreed to merge with SilverBox Corp IV, a SPAC sponsored by an affiliate of SilverBox Capital, in a deal that “could provide up to $640 million of gross proceeds” to fund a Bitcoin (BTC) treasury strategy.
Once the deal is complete, the combined company will be named Parataxis Holdings and will seek to trade on the New York Stock Exchange under the symbol “PRTX” with an implied equity value of up to $800 million at $10 per share.
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