Digital Asset Manager Parataxis Holdings is officially published through a style agreement with Silverbox Corp IV, which confirms earlier plans to list, announced it in a press release on Wednesday.
The new device is called Parataxis Holdings Inc. And aims to act under the Ticker “PRTX” at New York Stock Exchange (NYSE).
At a $ 10 share price, the agreement values the total company to $ 400 million, with the potential to double this figure if Parataxis exerts the right to raise an additional $ 400 million through a share purchase agreement. About $ 31 million has already been raised and earmarked for the purchase of Bitcoin (BTC), giving future shareholders immediate exposure to the asset.
Parataxis administers Bitcoin in an active strategy that mixes market exposure with yield -generating techniques. Unlike companies that simply have BTC, Parataxis is trying to generate income through trade in low volatility and tax style. The platform is run by veterans of Parataxis Capital Management and serves institutional client, including pension companies and family offices.
In June, Parataxis took its first international step by acquiring a controlling share in the Bridge Biotherapeutics, a health company built on South Korea’s Kosdaq. This company is renamed Parataxis Korea and acts as a regional base for its Bitcoin Treasury strategy. Since the announcement, Bridge shares have jumped 350%and show a strong investor need following the Bitcoin-proxy game.
South Korea offers a large user base, political support for digital assets, and especially no Spot Bitcoin Etf-what makes the market fruitful ground for BTC-focused public companies, the company says. Similar strategies have been given traction in Japan, where companies like Metaplanet have seen the stock prices wave after turning Bitcoin.
The Parataxis SPAC agreement will also allow the company to expand its US Treasury operations and explore other “special situations” investments. If successful, Parataxis could become one of the few listed companies that offer direct and active exposure to Bitcoin outside of a ETF structure.
The transaction is expected to close pending shareholder approval and a review from Securities and Exchange Commission.
