Parataxis Holdings to Merge with SilverBox Corp IV, Aiming to Raise $640 Million to Establish Bitcoin Treasury Company

BlockBeats News, August 7th. According to The Block, crypto investment startup Parataxis Holdings stated on Wednesday that it is merging with special purpose acquisition company SilverBox Corp IV to raise $640 million for a Bitcoin treasury company that will be listed on the New York Stock Exchange. After the merger is completed, the new company plans to list on the New York Stock Exchange under the ticker symbol PRTX.

The statement said, "This business combination will provide Parataxis Holdings with up to approximately $240 million in funding, with the specific amount dependent on the redemption status of SBXD (SilverBox Corp IV SPAC) shareholders. This includes $31 million in equity funding that will be immediately used to purchase Bitcoin."

Parataxis also stated that it has "entered into a stock purchase agreement" allowing it to "issue and sell up to $400 million in equity," and added that these measures combined "could provide up to a total of $640 million in proceeds to execute and expedite the Bitcoin treasury strategy."