Parataxis Holdings and special purpose acquisition company SilverBox Corp IV have finalized a merger agreement to establish a combined entity focused on Bitcoin treasury operations, with a valuation of approximately $640 million.
News of the merger agreement drove SilverBox Corp IV’s stock price up by 1.32% in after-market trading. The primary objective of the merger is to bolster market access and investment opportunities for the new Bitcoin treasury company within the United States and South Korea.
As part of its post-merger strategy, Parataxis has allocated $31 million earmarked for immediate Bitcoin purchases. The merger also facilitates Parataxis’s planned entry into the South Korean market.
SilverBox Corp IV enters this transaction without any outstanding debt obligations associated with its SPAC structure, as all prior debts were settled earlier this year. This positions the new company on a stable financial footing.
To strengthen its operations in South Korea, Parataxis recently completed the acquisition of Bridge Biotherapeutics Inc. This company has been renamed Parataxis Korea and is intended to serve as a vehicle for targeting South Korean businesses interested in Bitcoin.