Crypto firm Parataxis plans NYSE listing under PRTX

Parataxis, a digital asset management company focused on Bitcoin, will go public through a merger with SilverBox Corp IV, a SPAC sponsored by SilverBox Capital. The deal could generate up to $640 million in gross proceeds, which will be used to fund a Bitcoin treasury strategy.

Once completed, the combined entity will be named Parataxis Holdings and listed on the New York Stock Exchange under the ticker “PRTX.” The implied equity valuation is estimated at $800 million at a price of $10 per share.

Initially announced in June, the transaction includes $240 million from the merger and up to $400 million through an additional equity line of credit. So far, $31 million has already been allocated to purchase Bitcoin.

Parataxis also plans to expand into South Korea through investments such as Bridge Biotherapeutics, whose stock price has surged 4.5 times since the initial announcement.