Parataxis Holdings has announced a merger with SilverBox Corp IV, a special purpose acquisition company (SPAC), with plans to form a $640 million Bitcoin-focused treasury company that will be publicly traded on the New York Stock Exchange under the ticker PRTX.
According to Parataxis, the deal is expected to bring in up to $240 million in capital, including $31 million in immediate equity funding to purchase Bitcoin. Additionally, a share purchase agreement will allow the firm to issue and sell up to $400 million in equity, pushing potential gross proceeds to $640 million.
The new entity aims to give investors institutional-grade exposure to Bitcoin by operating as a publicly traded BTC treasury vehicle—a model popularized by Michael Saylor’s MicroStrategy. Today, such companies collectively hold close to $90 billion in Bitcoin, according to data.
“This merger brings us one step closer to building a publicly listed platform that offers differentiated access to Bitcoin,” said Edward Chin, founder and CEO of Parataxis Holdings.
Targeting U.S. and South Korean Markets
Parataxis plans to focus its BTC treasury operations on the U.S. and South Korea. In June, it signed a definitive agreement with Parataxis Korea Fund I LLC and biotech firm Bridge Biotherapeutics to spearhead its South Korean Bitcoin strategy.
Once the transaction is complete, the combined company is expected to become one of the newest publicly listed Bitcoin treasury firms, directly contributing to the growing institutional footprint in crypto asset management.
