Institutional digital asset management platform Parataxis Holdings has struck a business combination deal with a publicly listed special purpose acquisition company (SPAC) called Silverbox (NYSE: SBXD) to create a new entity, also named Parataxis.
Parataxis Holdings to Go Public With Plans to Raise $640M for Bitcoin Treasury Strategy
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The new firm aims to raise up to $640 million to establish a bitcoin ( BTC) treasury once the deal is finalized, according to a Wednesday press release. The company has already created a South Korean affiliate, Parataxis Korea, that will also employ a bitcoin treasury strategy. “We will be well-capitalized to execute a BTC treasury strategy in the U.S.,” said Parataxis CEO and Founder Edward Chin. “We will also be ideally positioned to further establish and grow our successful foothold in South Korea with Parataxis Korea.” Shares of Silverbox were going for $10.77 in afterhours trading, up 1.68% over the past 24 hours.
