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Parataxis Holdings is set to merge with SilverBox Corp IV, a SPAC, to form a Bitcoin treasury company that plans to go public on the New York Stock Exchange under the ticker PRTX. The move aims to secure up to $640 million to support an aggressive Bitcoin acquisition and holding strategy.
The deal will immediately provide $31 million in equity to purchase Bitcoin, with an additional $240 million expected from SPAC investors, pending shareholder redemptions. Parataxis also signed a share purchase agreement enabling it to issue and sell up to $400 million in equity. Combined, these funds will be used to accelerate the company’s Bitcoin-focused treasury model, echoing the strategy first popularized by MicroStrategy’s Michael Saylor.
Focused on both U.S. and South Korean markets, the company is expanding its global footprint. In June, Parataxis signed a definitive agreement with Bridge Biotherapeutics and Parataxis Korea Fund I LLC to roll out its Korean BTC treasury strategy. With treasury-backed Bitcoin firms now holding nearly $90 billion in assets, Parataxis joins a growing wave of crypto-forward public companies.
