Digital Asset Manager Parataxis Holdings is officially made public thanks to a SPAC agreement with Silverbox Corp IV, confirming the previous plans to register, he announced in a press release on Wednesday.
The new entity will be called Parataxis Holdings Inc. and aims to negotiate under the Ticker “PRTX” on the New York Stock Exchange (NYSE).
At a course of $ 10, the agreement appreciates the company combined with $ 400 million, with the potential to double this figure if the parataxy exercises the right to increase additional $ 400 million thanks to a share purchase agreement. About $ 31 million has already been collected and intended for the purchase of Bitcoin (BTC), giving future shareholders an immediate exposure to the asset.
Parataxy manages bitcoin in an active strategy that mixes market exposure with return generation techniques. Unlike companies that simply hold BTC, parataxy seeks to generate income thanks to low volatility and treasure -style negotiation operations. The platform is led by veterans of Parataxis Capital Management and serves institutional customers, including retirement companies and families.
In June, Parataxis made its first international decision by acquiring majority participation in Bridge Biotherapeutics, a health care company registered in Kosdaq in South Korea. This company will be renamed Parataxis Korea and will serve as a regional basis for its Bitcoin cash strategy. Since the announcement, Bridge shares have jumped 350%, showing a high demand for investors for Bitcoin-Proxy game.
South Korea offers a large user basis, political support for digital assets, and in particular, none ETF Bitcoin, only making the fertile market for public companies focused on the BTC, said the company. Similar strategies have gained ground in Japan, where companies like Metaplanet have seen equity prices increase after pivoting Bitcoin.
The Parataxie-Spac agreement will also allow the company to expand its US Treasury operations and to explore other investments in “special situations”. In the event of success, parataxy could become one of the few listed companies providing direct and active exhibition to Bitcoin outside of an ETF structure.
The transaction is expected to close the approval of pending shareholders and an examination of the Securities and Exchange Commission.
