Parataxis Holdings, a U.S.-based institutional digital asset manager, is set to go public through a merger with SilverBox Corp IV (NYSE: SBXD), a special purpose acquisition company (SPAC), in a deal aimed at raising up to $640 million to fund a Bitcoin treasury strategy.The newly formed entity, Pubco, will list on the New York Stock Exchange under the ticker “PRTX.”
The transaction values the combined firm at $400 million based on a $10 share price. An initial $31 million equity commitment will be deployed immediately for Bitcoin purchases. Subject to shareholder redemptions, up to $240 million from the SPAC trust could be delivered to Parataxis. The structure also enables Pubco to raise additional capital to expand its BTC holdings.
JUST IN: Asset manager Parataxis Holdings will buy up to $640 MILLION Bitcoin for its treasury reserves.
Corporations are going all in on Bitcoin 🔥 pic.twitter.com/7b0FSVju0b
— Bitcoin Archive (@BTC_Archive) August 6, 2025
Parataxis plans to use the funds to build an institutional-grade Bitcoin treasury platform, with a focus on regulated and disciplined exposure to digital assets. The company is also scaling its international presence, having rebranded Bridge Biotherapeutics (KQ: 288330) as Parataxis Korea to establish a stronghold in the Asian market. CEO Edward Chin said the new entity is “well capitalized” to pursue strategic growth in both the U.S. and South Korea.
The move follows the playbook of MicroStrategy and other corporate giants that have adopted Bitcoin treasury strategies to gain long-term exposure to the asset. Institutional interest in BTC has surged, with more than 166,000 Bitcoin added by corporate and fund managers in July alone. According to Bitcoin Treasuries, total holdings across public firms and ETFs now exceed 3.64 million BTC, worth over $428 billion.
Chin noted that the SPAC merger moves Parataxis closer to its goal of becoming a listed platform offering structured, institutional access to Bitcoin and other digital assets in underserved global markets.
Similarly, ProCap, the crypto investment firm led by Anthony Pompliano, has also confirmed a $750 million SPAC merger with Columbus Circle Capital Corp., underscoring renewed momentum for crypto-related listings in U.S. markets.
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