Parataxis Holdings will merge with SilverBox Corp IV, aiming to raise $640 million to establish a Bitcoin treasury company

ChainCatcher news, according to The Block, cryptocurrency investment startup Parataxis Holdings announced on Wednesday that it is merging with special purpose acquisition company SilverBox Corp IV, planning to raise $640 million for a Bitcoin treasury company that will be listed on the New York Stock Exchange. After the merger is completed, the new company plans to list on the New York Stock Exchange under the ticker symbol PRTX.

The statement said: "This business combination will provide Parataxis Holdings with up to approximately $240 million in funding, depending on the redemption of SBXD (SilverBox Corp IV SPAC) shareholders. This includes $31 million in equity funding that will be immediately used to purchase Bitcoin."

Parataxis also stated that it has "signed a share purchase agreement" allowing it to "issue and sell up to $400 million in equity," adding that these initiatives could collectively "provide up to $640 million in total proceeds to execute and accelerate the Bitcoin treasury strategy."