Parataxis Holdings to Merge with SilverBox, Raise $640 Million to Establish Bitcoin Treasury

According to Odaily Planet Daily, crypto investment startup Parataxis Holdings announced that it will merge with special purpose acquisition company (SPAC) SilverBox Corp IV, aiming to raise up to $640 million to establish a Bitcoin treasury. Upon completion of the merger, the new company will be listed on the New York Stock Exchange under the ticker symbol PRTX.

The statement shows that the transaction will provide Parataxis with up to approximately $240 million in funds, depending on the redemption of SilverBox shareholders, including $31 million in immediately available equity funds for the purchase of Bitcoin. In addition, Parataxis has signed a share purchase agreement to allow the issuance and sale of up to $400 million in equity to fund the advancement of its Bitcoin treasury strategy. (The Block)