The manager of Digital Assets, parataxis holdings, is officially being made public through a SPAC agreement with Silverbox Corp IV, confirming previous plans to list, announced in a press release on Wednesday.
The new entity will be called Parataxis Holdings Inc. and aims to trade under the “PRTX” ticket in the New York Stock Exchange (NYSE).
At a price of $ 10, the agreement values the company combined at $ 400 million, with the potential to duplicate that figure if Parrataxis exercises the right to raise additional $ 400 million through a sharing agreement. Around $ 31 million have already been collected and assigned to buy Bitcoin (BTC), which gives future shareholders immediate exposure to the asset.
Parataxis manages Bitcoin in an active strategy that combines market exposure with performance generation techniques. Unlike companies that simply have BTC, parataxis seeks to generate income through low volatility trade and treasure -style operations. The platform is directed by veterans of Parataxis Capital Management and serves an institutional client, including pension companies and family offices.
In June, Parataxis made its first international movement by acquiring a control participation in Bridge Biotherapeutics, a health firm that appears in Kosdaq of South Korea. That firm will be renamed Parrataxis Korea and will serve as a regional basis for its Bitcoin Treasury strategy. Since the announcement, Bridge shares have increased by 350%, showing a strong demand for investors for the Bitcoin-Proxy game.
South Korea offers a large user base, political support for digital assets, and in particular, without ETF of Bitcoin Spot, which makes the market a fertile land for public companies focused on BTC, said the company. Similar strategies have gained land in Japan, where companies such as Metaplenet have seen shares prices increase after turning Bitcoin.
The Parrataxis-Spac agreement will also allow the company to expand its United States Treasury operations and explore other “special situations” investments. If it succeeds, parataxis could become one of the few companies that appear in public that offer direct and active exposure to Bitcoin out of an ETF structure.
The transaction is expected to close the pending approval of the shareholders and a review of the stock exchange and securities.
