Parataxis Holdings to Go Public With Plans to Raise $640M for Bitcoin Treasury Strategy
Main Idea
Parataxis Holdings plans to go public via a SPAC merger with Silverbox to raise $640 million for establishing a bitcoin treasury strategy, with operations in the U.S. and South Korea.
Key Points
1. Parataxis Holdings is merging with SPAC Silverbox (NYSE: SBXD) to go public and raise up to $640 million.
2. The funds will be used to establish a bitcoin (BTC) treasury strategy.
3. Parataxis has already set up a South Korean affiliate, Parataxis Korea, which will also implement a bitcoin treasury strategy.
4. CEO Edward Chin stated the company will be well-capitalized to execute its BTC strategy in the U.S. and expand its presence in South Korea.
5. Silverbox shares traded at $10.77 in afterhours, up 1.68% over the past 24 hours.
Description
Institutional digital asset management platform Parataxis Holdings has struck a business combination deal with a publicly listed special purpose acquisition company (SPAC) called Silverbox (NYSE: SBXD) to create a new entity, also named Parataxis. The new firm aims to raise up to $640 million to establish a bitcoin ( BTC) treasury once the deal is
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