Parataxis Plans Public Listing Through SPAC Merger to Fund Bitcoin Treasury Strategy

Key Points

1. Parataxis plans to merge with SilverBox Corp IV, raising $640 million to fund a Bitcoin treasury strategy and achieve a public listing.

2. The company aims to trade on the NYSE under the symbol 'PRTX' with an implied equity value of up to $800 million.

3. Parataxis intends to expand into South Korea, offering BTC yield strategies to investors through its subsidiary 'Parataxis Korea'.

4. The SPAC merger follows a trend of crypto-related companies going public, such as Circle Internet Group and ProCap Acquisition Corp.

5. Shares in SilverBox Corp IV have seen minor gains this year, closing at $10.60 with a slight after-hours increase to $10.78.